DHAKA: Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) authorities Wednesday proposed to raise the amount of tax exemption upto Tk 50,000 on the profit at stock markets in stead of Tk 10,000.

Authorities of two bourses of the country made the proposal, along with some other proposals in bringing stability in the market, in a pre-budget (2014-15FY) discussion at the conference room of National Board of Revenue (NBR) in the morning.

Regarding dividend tax, Dhaka Stock Exchange (DSE) Chairman Siddiqur Rahman Mia said, “It has created dual taxes complexity.”

DSE Chairman also said, “Under the system, a company has to pay taxes twice--first income tax and dividend tax. Abandonment of this will raise company’s capability to give more profit to the investors.”

Siddiqur Rahman proposed to withdraw dividend tax following the examples of Malaysia and Sri Lanka.

Demanding to raise the amount of tax exemption from Tk 10,000 to 50,000, he also said, topical recession affected share market investors.

Many of investors are currently paying source-tax in spite of having income below the tax range, he also said.
 
BDST: 1700 HRS, APR 23, 2014