Government’s tax collection from the Dhaka Stock Exchange hit two-year high in September as the National Board Revenue collected Tk 24.94 crore from the bourse in the month.
September’s tax collection from the Dhaka bourse was the highest after Tk 27.83 crore in September 2012. The government in September 2012 collected Tk 18.76 crore in taxes on turnover and Tk 9.07 in taxes on sponsor-directors’ profit in share sales.
In September, the bourse paid Tk 17.58 crore in taxes on turnover and Tk 7.36 crore in taxes on sponsor-directors’ capital gain on share sales.
Government’s tax collection from the bourse was all-time high in July 2011 when the DSE paid Tk 71.08 crore in taxes to the government including Tk 59.63 crore in taxes on turnover and Tk 11.45 crore in taxes on sponsor-directors’ profit on share sales.
If the turnover and sponsor-directors’ share sales at the bourse increases, tax collection from the sector rise automatically, DSE officials said.
In September, total turnover at the DSE was Tk 17,580.96 crore.
The DSE under the Section 53 BBB of Income Tax Ordinance 1984 collects 0.05 per cent tax on turnover, while sponsor-directors and placement holders are bound to pay 5 per cent tax on their capital gain on share sales as per the Section 53M of the Income Tax Ordinance 1984.
Including taxes on turnover and taxes on sponsor-directors share sales the government in August collected Tk 20.14 crore from the DSE.
The DSE in August had collected Tk 12.65 crore in taxes on turnover and Tk 7.48 crore in taxes on sponsor-directors’ capital gain on share sales.
The bourse in the last financial year 2013-14 paid Tk 153.84 crore in tax including tax on turnover and on sponsor-directors’ share sales against Tk 127.29 crore it had paid in the previous FY.
The government in the FY14 got Tk 112.53 crore in tax on turnover, while it received Tk 85.70 crore in the previous FY.
The bourse in the FY14 collected Tk 41.31 crore in tax on sponsor-directors’ share transactions, while it was Tk 41.58 crore in the FY13.
The NBR in the FY12 got Tk 168.91 crore in tax on turnover against Tk 102.76 crore in tax on sponsor-directors’ share sales. The bourse after its inception gave the highest tax on turnover of Tk 325.91 crore in the FY11 when the market had witnessed a bubble burst.
-With New Age input
