Dhaka Stock Exchange urges NBR not to impose new tax on capital gains

The Dhaka Stock Exchange (DSE) has demanded no imposition of tax on the capital gains in the upcoming budget for the 2024-25 fiscal year. 

DSE President Hafiz Muhammad Hasan Babu made the demand at a pre-budget press briefing at Dhaka Club Ltd in the capital's Shahbagh today. 

The demand came at a time when the National Board of Revenue (NBR) is planning to levy a 15 percent income tax on capital gains to generate revenue.

"Any new tax will burden the investors further in this crucial time, as the market is still under pressure due to the fallout of the Covid-19 pandemic and the Russia-Ukraine war." 

He also mentioned that the existing source taxes should be reduced. 

It was also proposed that corporate tax for listed companies should be reduced by 2.5 percentage points from the existing 20 percent. 

"The corporate tax gap between listed and non-listed companies should be 10 percent to 12 percent to encourage the good companies in the stock market," he said. The current gap is 7.5 percent.