Stock exchanges seek tax waiver for SME share trading

Staff Correspondent

3 April, 2019 12:00 AM printer

The country’s stock exchanges on Tuesday urged the government for tax waiver for share transaction of companies that would be listed with the small capitalised board.

The burses also urged the government to increase the tax free dividend income to Tk 1 lakh from the existing Tk 25,000, in order to increase the participation of small investors in the capital market.

Both the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) made the demands in their budget proposals for the fiscal year 2019-20, placed at a pre-budget discussion at the National Board of Revenue (NBR) in the city on Tuesday.

National Board of Revenue (NBR) Chairman Md Mosharraf Hossain Bhuiyan presided over the pre- budget meeting with members and executives of the stock exchanges.

The stock exchanges also urged the government to reduce corporate tax for publicly listed companies to 15 percent from the current 25 percent for the fiscal year 2019-20.

At present, publicly listed companies have to pay a minimum of 25 percent and maximum of 40 percent tax, based on their business category.