Demutualisation
Bourses again press for tax exemption
The Dhaka and Chittagong stock exchanges again pressed their demand for tax exemption for the demutualised bourses to the National Board of Revenue.
The bourses iterated their demand in a meeting held at NBR headquarters in the capital on Monday presided over by revenue board member SM Aminul Karim, where BSEC executive officer Anowarul Islam, DSE chief executive officer Swapan Kumar Bala and CSE CEO Syed Sajid Hossain were also present.
‘We have placed our demand to the revenue board again which was earlier submitted to the finance ministry and the NBR as well,’ said Sajid.
‘Tax exemption for the bourses after the demutualisation was our main demand and we also placed demand to allow the income of shareholders of the bourses from share sales as tax free,’ he said.
Sajid also said, ‘The NBR has assured us that no extra taxes will be imposed till the next budget on the bourses as per the existing rules of the revenue board, but it may issue a statutory regulatory order within the next financial budget allowing the bourses income as tax free.’
Both the bourses were enjoying tax waiver as both were non-profit organisations before the demutualisation. But, the DSE and CSE became profit-oriented organisations after the demutualisation.
The bourses on November 22, 2013 became demutualised.
The DSE for the first time in May last year placed the demand for a five-year tax break for the bourses after the demutualisation.
-With New Age input
