Tax collection from DSE jumps 63%

The government's tax collection from the Dhaka Stock Exchange (DSE) increased by 63.03% in the first quarter – July to September – of the current fiscal year.

During this period, the National Board of Revenue received Tk70.90 crore, which was Tk43.49 crore in the same period of the previous fiscal year.  

DSE sources said tax collection from the capital market depends mainly on turnover, and capital gains of sponsors and directors from share sales.

The market remained bull during the first quarter of the current fiscal year, and DSE trade volume increased after the new commission joined.

The new commission took some effective steps considering the interest of investors. As a result, investors gained confidence in investing in the capital market, sources said. 

As per the Income Tax Ordinance 1984, the DSE collects 0.05% tax on turnover and 5% on capital gains from share sales by sponsors, directors and placement holders.

In the first quarter of the current fiscal year, the revenue board received Tk46.88 crore in taxes on turnover, which was Tk24.84 crore in the same period of the previous fiscal year.

Also, it received Tk24.02 crore in taxes on capital gains of sponsors and directors, which was Tk18.65 crore in the same period of the previous financial year.

In the first quarter of the current fiscal year, the DSE Broad Index increased by almost 1,000 points and trade volume reached Tk1,400 crore.