The government’s tax collection from the Dhaka Stock Exchange increased by12.30 per cent in July, the first month of the financial year 2013-2014, thanks to the bourse’s increased turnover.
DSE paid taxes worth Tk 18.44 crore in July, including taxes on turnover and gain tax from sponsors-directors share sell, while it was Tk 16.42 crore in June.
DSE members paid Tk 15.30 crore in taxes on turnover in July while it was Tk 13.23 crore in June.
The DSE collects the tax as brokerage commission at 0.05 per cent rate and then submits it to the National Board of Revenue.
While the bourse collected Tk 3.14 crore in taxes at 5 per cent rate from the sponsors-directors capital gain on share sells.
DSE officials said the government’s tax collection from the bourse depends on its turnover. As the turnover of the bourse increased significantly, the amount of tax also increased.
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 taxes in turnover 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.
The DSE price index rose to a record high at the end of 2010 with the bourse’s index DGEN skyrocketing to 8,918.51 points on December 5.
The DSE turnover reached its record high to Tk 3,249.57 crore on the day.
But a market crash pushed down the DGEN to 7,572.61 points on January 30, 2011 from 8,723.18 points on December 1, 2010.
The DSE turnover also declined due to the crash and stood at Tk 101.57 crore on January 21 this year, its five-year low.
-With New Age input
