Tax collection from DSE rises for 3rd month

Staff Correspondent | Published: 22:22, Oct 08,2017

 
 

The government’s tax collection from the Dhaka Stock Exchange rose 13.56 per cent to Tk 30.81 crore in September from Tk 27.13 crore in the previous month mainly due to a continuous surge in tax on sponsor-directors’ capital gain from share sales.
Although tax on bourse’s turnover remained flat in September, NBR’s overall collection from DSE increased slightly in the month as tax on sponsor-directors’ capital gain continued amplifying for the three consecutive months.
The National Board of Revenue received Tk 19.92 crore as tax on turnover and Tk 10.88 crore as tax on sponsor-directors’ capital gain from share sales in September.
In August, NBR received Tk 19.58 crore as turnover tax and Tk 7.54 crore as tax on sponsor-directors’ capital gain from share sales.
In July, NBR received Tk 20.92 crore as turnover tax and Tk 4.25 crore as tax on sponsor-directors’ capital gain from share sales.
The consolidated turnover on the bourse in 19 trading sessions inched up by 1.82 per cent to Tk 19,944 crore in September from Tk 19,589.23 crore in August.
The average daily turnover on DSE advanced to Tk 1,049 crore compared with that of Tk 932.82 crore in August.
Under the Income Tax Ordinance 1984, DSE collects 0.05 per cent tax on turnover from brokerage houses, which collect the tax
from investors on their daily transactions, and 5 per cent tax on capital gains made by sponsor-directors and placement-shareholders.
Single-month tax collection by the government from the DSE hit a record high in November 2010 when it received Tk 47.71 crore, thanks to the market boom in 2009-2010.

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