DSE calls for policy support

The Dhaka Stock Exchange (DSE) yesterday placed a six-point demand related to taxes for consideration in the proposed national budget for the fiscal year of 2023-24. 

The demands are reducing the corporate tax gap between listed and non-listed companies, waiving the tax on the income from bonds, considering source tax on dividends as the final tax, and lowering the taxes faced by stockbrokers.

The DSE also called for reducing the tax burden for the listed small and medium enterprises and cutting the value-added tax for all listed companies to 10 per cent from 15 per cent.

The demands came at a press briefing organised by the DSE at the FARS Hotel & Resorts in Dhaka. At the briefing, the bourse shared its reaction about the proposed budget.

"Although the proposed budget did not talk about the capital market, it is a good thing that at least no new taxes were proposed," said Prof Haifz Md Hasan Babu, chairman of the DSE.

"We are hopeful that the government will consider our demands for the sake of the betterment of the capital market."

Babu went on to say that as general investors are suffering from a confidence crisis and incurring losses, they look forward to getting any policy support that could help the market indices bounce back.

The stock market was hit hard by the Covid-19 pandemic and the ongoing Russia-Ukraine war but it is now bouncing back.

"Still, some policy support is needed for the market to return to the pre-crisis level," he said.

Prof Abdullah Al Mahmud and Rubaba Dowla, directors of the DSE, were also present at the event.