The government’s monthly revenue collection from the Dhaka Stock Exchange declined by 39.15 per cent in August from July due to the plummeting turnover of the bourse.
The National Board of Revenue in August got Tk 11.22 crore in taxes from the bourse while it was Tk 18.44 crore in July, showed DSE data released on Wednesday.
The bourse paid Tk 7.14 crore in taxes on daily turnover and Tk 4.08 crore in gain taxes from the share sales of sponsors-directors of listed companies in August.
The bourse paid Tk 15.30 crore in taxes on turnover and Tk 3.14 crore in gain taxes in July.
The DSE collects the turnover tax as brokerage commission from the investors at 0.05 per cent rate and it collects gain taxes at 5 per cent rate from the sponsors-directors’ share sales as per the Income Tax Ordinance.
The turnover of the bourse declined by 39.15 per cent in August as the trading was closed for a week because of the Eid-ul-Fitr and the National Mourning Day, DSE officials said.
The turnover of the DSE hit a two-year high of Tk 1,294.61 crore on July 9,
which was the highest after Tk 1,341.26 crore recorded on July 31, 2011.
The government’s tax collection from the DSE had declined to Tk 3.22 crore in April, which
was the lowest since
May 2009 when the government had collected Tk 3.09 crore.
In the last financial year the NBR had collected Tk 85.70 crore in turnover taxes from the bourse on a monthly average of Tk 7.09 crore.
Tax collection by the government had hit a record high in November 2010 when they received Tk 47.71 crore thanks to the market boom.
The NBR had collected Tk 168.91 crore in turnover taxes from the DSE in the FY 2011-2012.
The NBR got Tk 325.91 crore from the DSE in
turnover taxes in the
FY 2010-2011, when the market witnessed
record turnover, with a monthly average of Tk 27.15 crore.
-With New Age input
