Revenue from stock market rises slightly
The government's earnings from stock market operations edged up only 2.96 percent to Tk 395 crore last fiscal year because of lower turnover.
The amount came as fees from the beneficiary owner's (BO) accounts, value-added tax and tax on transactions.
Of the amount, the Dhaka Stock Exchange submitted Tk 280 crore, which is 3.94 percent lower than the previous year. However, the income from the Chittagong Stock Exchange soared about 132 percent to Tk 57.36 crore in 2017-18.
The Bangladesh Securities and Exchange Commission (BSEC) contributed Tk 57.53 crore, down 14.57 percent from a year earlier.
The BSEC collects the money from the Central Depository Bangladesh Ltd (CDBL) as maintenance fee for BO account, while the two stock exchanges collect money by charging tax and VAT on transaction of securities. BSEC Chairman M Khairul Hossain handed over the cheque yesterday to Finance Minister AMA Muhith at his secretariat office.
“The capital market is improving day by day and the amount of the money given to the government exchequer is on the rise,” Hossain said, adding that the amount will increase more in future.
The forthcoming election has not had any impact on the stock market, he added.
Muhith said the government and the BSEC have taken several steps that resulted in a strong base for the share market.
“In future, the share market will see improvements and local and foreign investors will make investment here,” he added.
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