BSEC wants cuts in corporate tax for listed firms
Bangladesh Securities and Exchange Commission (BSEC) is working to widen the gap of corporate taxes between listed and non-listed companies in order to attract well-performing companies to the market.
Now, the difference is 7.5 per cent on an average but the stock market regulator wants it to rise up to 15 per cent by reducing the tax for listed companies.
"We will attach it in the list of proposals for the next budget," said Prof Shibli Rubayat Ul Islam, chairman of the BSEC.
"We need to widen the difference of corporate tax in order to attract multinational companies to the stock market."
Though the difference was 10 per cent but in the last budget it was decreased to 7.5 per cent, which ultimately discouraged multinational companies, Islam said.
When a company got listed, its cost of operations rises 2 to 3 per cent, because of which it deserves an incentive and the incentive might be given in the form of tax reduction, the BSEC chairman said.
His comments came at a press meet that the BSEC organised at the commission building yesterday to share information about the road show that is going to be held in Dubai from February 9 to February 12.
The stock market watchdog will arrange the event in Dubai in order to attract foreign and non-resident investors.
Title of the road show would be "The rise of the Bengal tiger: potential of Bangladesh capital market".
"We will present our potential and economic development and growth track record to attract investors. We are hopeful that investment will come from that country," Islam said.
The commission has plans to arrange similar road shows in London, Rome, Toronto, New York, Hong Kong, Singapore, Shanghai and Tokyo.
Rezaul Karim, spokesperson of the BSEC, also spoke at the press briefing.
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