DSE urges NBR not to impose further tax on capital gains in upcoming budget

The Dhaka Stock Exchange (DSE) has urged the National Board of Revenue (NBR) not to impose any further tax on capital gains in the upcoming budget.

"The capital market is in a critical situation," said DSE Chairman Professor Hafiz Md Hasan Babu while urging the NBR not to increase the tax burden further keeping the investors' interest in mind.

The demand came at a time when the National Board of Revenue (NBR) disclosed plans to impose a 15% income tax on capital gains, which is now tax-free.

In a pre-budget press conference of the DSE held at the Dhaka Club, DSE Chairman Professor Hafiz Md Hasan Babu presented a five-point demand to the NBR to consider in the upcoming budget.

The DSE chairman said, "Any kind of tax imposed will be a burden for the capital investors as the market has been in a critical situation due to various reasons like the pandemic, Russia-Ukraine war and global crisis."

He demanded to decrease the tax at source in trading stocks to Tk0.020% from Tk0.05%, to widen the corporate tax gap between the listed and non-listed companies to at least 10% to 12.5%, which is now 7.5%.

Source: The Business Standard