Government revenue earnings from the Dhaka Stock Exchange (DSE) dropped by 23% or Tk82.63 crore year-on-year in FY23 as most trading sessions were volatile over the year.
In FY23, tax revenue collection from the DSE was Tk276.66 crore against Tk359.30 crore in FY22, according to DSE data.
In July to June period of FY23, the government's tax revenue collection from members of stock exchange or trading right entitlement certificate holders (TREC) commission fell by 32.76% to Tk192.57 crore against Tk286.42 crore in FY22.
Tax revenue from share sales by sponsor-directors and placement holders increased by 13.34% to Tk84.09 crore in FY23 from Tk72.87 crore in FY22.
According to the DSE data, shares worth Tk1.91 lakh crore were traded in 241 days on DSE from July to June period of FY23.
However, in FY22, shares worth Tk3.18 lakh crore traded in 240 days.
According to market operators, the government lost revenue worth more than Tk82 crore from the DSE as share prices continued to fall throughout the year.
The share transaction amount of DSE decreased by 39.93% or Tk1.27 lakh crore over the year, they said.
According to them, the reason behind the decrease in transactions was most shares being stuck at floor prices.
According to the latest DSE data, out of 403 companies, around 210 to 215 companies' shares, mutual fund units and bonds remained stuck at floor prices.
The DSE, on behalf of the government, collects tax on TREC holders' commission and share sales at the rate of 0.05% and 5% respectively and deposits the amount to the government exchequer.
The DSE paid tax worth Tk447 crore in FY11, the highest in its history, when the market witnessed a bubble-bust before crashing.
In FY20, the government's earnings from the DSE plunged more than a 10-year low to Tk104 crore due to sluggish market turnover coupled with trading suspension for more than two months due to the Covid-19 outbreak.
