More tax incentives for share investors demanded

Dhaka Stock Exchange (DSE) authorities yesterday demanded a number of tax incentives for share investors to encourage people invest more in securities, which will help make the country's stock market vibrant, reports BSS.
The recommended tax incentives include increase in tax-free dividend income limit, a 5-year tax holiday for stock exchanges, lower advance income tax (AIT) for stock exchange members and exemption of stamp duty on transferring demutualised shares,
Dhaka Stock Exchange (DSE) Chairman Justice Siddiqur Rahman Miah at a press conference on DSE premises presented the proposal, urging the government to consider those in the next national budget.
Proposing that the tax-free dividend income limit should be increased to Tk 100,000 from current Tk 25,000, he said this incentive would attract more people in share investment.
He said DSE should also be allowed a five-year tax holiday so it could continue its reform and development activities to ensure sustainable growth and smooth operation of the stock exchange.
The chairman urged for reducing the AIT of the members of stock exchanges to 0.015 per cent from present 0.05 per cent, which would
help reduce the cost of transaction and would enhance the trade volume and revenue income for the government as well.
He said the government should exempt stamp duty on share transaction as all the securities are already in dematerialised form, and
therefore, there is no scope to affix stamp to comply with the Stamp Duty Act for transferring shares.

More tax incentives for share investors demanded

Dhaka Stock Exchange (DSE) authorities yesterday demanded a number of tax incentives for share investors to encourage people invest more in securities, which will help make the countrys stock market vibrant, reports BSS. The recommended tax incentives include increase in tax-free dividend income limit, a 5-year tax holiday for stock exchanges, lower advance income tax (AIT) for stock exchange members and exemption of stamp duty on transferring demutualised shares, Dhaka Stock Exchange (DSE) Chairman Justice Siddiqur Rahman Miah at a press conference on DSE premises presented the proposal, urging the government to consider those in the next national budget. Proposing that the tax-free dividend income limit should be increased to Tk 100,000 from current Tk 25,000, he said this incentive would attract more people in share investment. He said DSE should also be allowed a five-year tax holiday so it could continue its reform and development activities to ensure sustainable growth and smooth operation of the stock exchange. The chairman urged for reducing the AIT of the members of stock exchanges to 0.015 per cent from present 0.05 per cent, which would help reduce the cost of transaction and would enhance the trade volume and revenue income for the government as well. He said the government should exempt stamp duty on share transaction as all the securities are already in dematerialised form, and therefore, there is no scope to affix stamp to comply with the Stamp Duty Act for transferring shares.