Stock tax hits record low

The government's earnings from stock trading hit a 46-month low at Tk 3.33 crore in March, as transaction value has been on a downward curve for long.
Such dismal earnings were last seen in May 2009 when the amount was Tk 3.09 crore, according to the Dhaka Stock Exchange.
The daily turnover on the premier bourse came down by more than 72 percent to the Tk 150-crore level at the end of March, from Tk 550 crore one and a half months ago.
The daily transaction volume also declined by 71 percent to 4.11 crore shares and mutual fund units from 14.21 crore during the same period.
The ongoing political unrest has further destabilised the market, which has already been in the gloom for more than two years since the price debacle in early 2011.
During the last one and a half months, the benchmark index of the Dhaka bourse, DSEX, went down by 696 points, or 16 percent, to 3,590 points. After yesterday's close, the DSEX stood at 3,515 points.
The DSE, on behalf of the government, collects the tax as brokerage commission at 0.05 percent and deposits the amount to the state coffer.
The brokerage commission is linked with stock transaction. The higher value and volume of shares generate higher commissions, said Shafiqur Rahman, deputy general manger of the DSE.
“As the turnover marked a significant fall in recent times, it's usual that commission will also decline, and so will the government's earnings,” he added.
The government earned tax worth Tk 100.11 crore in 2012, down from Tk 207.84 crore a year ago.