Both Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) demanded that the National Board of Revenue (NBR) withdraw and reduce advance income tax on payment of dividends or interest on shares, bonds and other stock market investments to promote the investment climate in the country.
In a pre-budget discussion with the NBR regarding the upcoming FY24 budget, they also recommended continuing the existing untaxed money investing facility with a 5% tax in the upcoming budget.
Both the bourses also demanded reducing corporate tax from the existing 30% to 22.50% to promote listed companies and the capital market of the country.
They also demanded tax exemption on interest against any kind of bond, treating tax on dividend income at source as full and final settlement, reducing the source tax rate on transaction of securities and reducing concessional tax rate for SMEs listed under the SME board of the stock exchanges.
NBR chairman Abu Hena Md Rahmatul Muneem presided over the meeting.
Speaking at the meeting on Sunday, he said that their policy members will review the proposals and send written suggestions to the Finance Ministry for considering the proposals before finalizing the draft finance bill for the upcoming national budget for fiscal year 2023-2024.
