Dhaka Stock Exchange, the country’s premier bourse, will seek a five-year tax exemption in an effort to make it a profitable and attractive organisation to investors after demutualisation, DSE leaders said here on Saturday.
‘We’ll seek a five-year tax exemption in the next budget.
We’ve a specific proposal on it,’ DSE president M Rakibur Rahman told the UNB at his office on Saturday.
He said they had a meeting with the finance ministry and would meet the chairman of the National Board of Revenue to discuss their budget proposals.
Rakibur also said the finance minister gave time to hold another meeting on the country’s capital market.
DSE director Ahsanul Islam said the demutualisation of the stock exchange was almost finalised.
‘It’ll just be implemented through enacting a law.’
Explaining their tax-exemption proposal, he said the DSE, now a non-profit organisation, would turn into a private limited and profitable company after the demutualisation.
‘There’ll be 60 per cent shareholders from outside after the demutualisation. We need to make it profitable and attractive to the new shareholders. That’s why we seek tax exemption to make a good start and attract the new investors,’ the former DSE first vice-president said.
Responding to a question, Ahsanul said the amount of the tax would depend on which category the DSE would be kept in if the government determines to impose tax what it does on other private profitable companies.
‘It may be 37.2 per cent to 42 per cent.’
-With New Age input
