Tax receipts from stocks soar 70pc
The government's tax earnings from the stockmarket soared 70 percent year-on-year last month, mainly due to a rising trend in turnover.
The government earned Tk 17.58 crore in taxes in September, up from Tk 10.33 crore in the same month last year, according to data from Dhaka Stock Exchange.
The daily average turnover on the premier bourse rose 70.12 percent to Tk 799.13 crore last month, compared to Tk 469.74 crore a year ago.
Turnover increased due to growing confidence and a positive outlook, a DSE official said.
“As taxes are related to stock trade, a higher turnover generates a higher volume of taxes.”
The DSE collects the tax, known as brokerage commission, at 0.05 percent and deposits the amount with the state coffer.
The government's earnings from taxes on the sale of sponsor and placement shares stood at Tk 7.36 crore in September.
The prime bourse also collects taxes on the sale and transfer of shares by the sponsor-directors and placement shareholders at a rate of 5 percent, on behalf of the government.
Between January and September, the government received Tk 88.49 crore in taxes from stock trade, while earnings from taxes on the sale of sponsor and placement shares stood at Tk 37.59 crore.
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