Stock tax receipts down | The Daily Star
12:00 AM, March 06, 2011 / LAST MODIFIED: 12:00 AM, March 06, 2011

Stock tax receipts down

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A bearish trend in the capital market has pulled down the government's earnings from stocks, as the trading volume is on the decline.
The government earned tax Tk 18.69 crore in January, down by Tk 20 crore from Tk 38.18 crore in December.
Dhaka Stock Exchange (DSE) paid Tk 264.33 crore tax to the government on the basis of daily transactions for the seven-month period till January. The government receives Tk 50 against the trading of Tk 1 lakh.
In the previous budget, the government increased tax to Tk 0.05 from Tk 0.025 on every transaction of Tk 100.
Saiful Islam, vice chairman of BRAC EPL, said: "Tax flow goes down as the trading volume is on the decline."
A lack of confidence among the investors and a credit crisis have hit the trading volume on the market, said Islam.
He also said: "The tax flow will rise when the market will be back on track."
The government has received Tk 73.22 crore as tax on placement of shares in the July-November period.
Professor Mahmud Osman Imam, who teaches finance at Dhaka University, said the government should come up with some 'packages' to stabilise the market so that tax earning increases.
Imam also said all the stakeholders should play a good role to help the investors regain their confidence in the current market situation.

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