Tax receipts from DSE drop in Feb

Tax earnings from the Dhaka Stock Exchange dropped 12.53 percent month-on-month in February on the back of falling trade volumes.
The premier bourse, on behalf of the government, collects the tax as brokerage commission at 0.05 percent and deposits the amount to the state coffers; and the higher the turnover, the higher the tax collection.
The government bagged Tk 10.96 crore in taxes in the second month of 2014, down from January's Tk 12.53 crore.
The average daily turnover declined 12.49 percent from January to Tk 548.10 crore.
However, the government's earnings from tax on sales of sponsor and placement shares shot up 146 percent to Tk 3.42 crore in February this year.
The government received Tk 1.39 crore in taxes from share sales by sponsor shareholders and placement holders in January.