Govt’s tax receipt from DSE rises in Jan

Staff Correspondent | Published: 03:05, Feb 02,2018

 
 

The amount of government’s tax collection from the Dhaka Stock Exchange increased to Tk 18.57 crore in January compared with that in the previous month due mainly to a rise in the sponsor-directors’ capital gain.
The National Board of Revenue received the amount that included Tk 10.07 crore as tax on turnover and Tk 8.5 crore as tax on sponsor-directors’ capital gain from share sales.
In December, the government’s tax receipt from the bourse was Tk 12.98 crore — Tk 9.21 crore as turnover tax and Tk 3.77 crore as tax on sponsor-directors’ capital gain from share sales.
Though the market was bearish in January and December, the tax collection rose in January as the number of trading sessions was higher in January.
The average daily turnover on the DSE declined to Tk 437.91 crore in January with 23 trading sessions compared with that of Tk 486.22 crore in December with 19 trading sessions.
Under the Income Tax Ordinance 1984, the 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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