Tax from DSE drops in October

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Stock investors lose Tk 102.61b at DSE in one week
Stock investors lose Tk 102.61b at DSE in one week

Tax from DSE drops in October

 

Tax collection by the National Board of Revenue from the Dhaka Stock Exchange dropped by 4.6 per cent to Tk 40.70 crore in October compared with that of Tk 50.20 crore in September amid a downward trend on the bourse.

Of the tax amount received by the revenue board, Tk 37.00 crore came from the TREC holders’ commission or brokerage commission and Tk 3.7 crore came from sponsor-directors’ and placement holders’ share shares, according to DSE data.

 

The average turnover in October decreased to Tk 18.50 billion, which was around Tk 23 billion in September.

However, the government’s revenue earnings from the DSE rose by 86 per cent to Tk 171.8 crore in four months (July-October) of the ongoing fiscal year of 2021-22 compared with that of Tk 92.50 crore in the same period of the previous fiscal year, the DSE data showed.

As per the Income Tax Ordinance 1984, the DSE collects 0.05 per cent tax on turnover and 5 per cent tax on capital gains from share sales by sponsor-directors and placement holders.

In July, the government’s tax receipts from the sponsor-directors’ capital gain from share sales on the bourse were Tk 5.6 crore and the turnover tax Tk 23.3 crore.

So, the total revenue in the month was Tk 28.9 crore.

The government’s revenue earnings from the DSE registered a 10-year high of Tk 266 crore in the FY 2020-21. The amount was Tk 103.5 crore in FY 2019-20.

The NBR received in tax from the DSE Tk 250.68 crore in FY19, Tk 257 crore in FY18, Tk 282 crore in FY17, Tk 193.59 crore in FY16 and Tk 209 crore in FY15.

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