TIN not must for all stock investors: NBR

Staff Correspondent | Published: 00:00, Apr 17,2019 | Updated: 00:09, Apr 17,2019

 
 

National Board of Revenue chairman Md Mosharraf Hossain Bhuiyan on Tuesday said that taxpayer identification number would not be required to open beneficiary owners account for investment in the capital market.
Currently, TIN is not mandatory for opening BO account, he said at a pre-budget discussion with private sector organisations including Real Estate and Housing Association held at the NBR headquarters in Dhaka.
He came up with a clarification following negative impact in capital market after a news report quoted him on April 3 that he asked stock exchanges to ensure possessing of TINs by investors.
Mosharraf said that investors would be able to open BO accounts in the same process they now follow.
He said that recently a newspaper recently wrote news quoting him that TIN would be made mandatory and Bangladesh Securities and Exchange Commission chairman and some other people informed him that the report also contributed in the ongoing decline in index in the market.
‘I am now making it clear that TIN is not mandatory and will not be mandatory for the purpose,’ he said.
Earlier on various occasions, NBR chairman said that he did not say anything like making TIN mandatory for capital market investors.
At a meeting with Dhaka Stock Exchange and others, he just wanted to know the status, he said.
But the issue was wrongly presented in the report, he said.

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