Leaders of the Dhaka Stock Exchange (DSE) will meet officials of revenue board today (Sunday) in a bid to bring down the proposed new taxes they say would affect the growth of the capital market.
DSE president Shakil Rizvi said they would try to convince the National Board of Revenue that the capital gains taxes and three-fold increase in brokerage commissions are detrimental to the bourses' expansion.
"We think the taxes slapped in the budget should be lowered to a reasonable rate. The present rates are too much and may stunt the potentials of the country's two bourses," Rizvi told the FE.
He said the impact of the taxes and hiked-up com missions have yet to be visible in the market. "But eventually, it will affect both institutional and retail investors," he said.
Finance Minister AMA Muhith in his budget speech for the 2010-11 fiscal year proposed to impose tax at a concessionary rate of ten per cent on income of an institution it earned from trading of shares of listed companies.
The Girl with the Dragon Tattoo
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