DSE for keeping dividend income up to Tk 25,000 tax-free
Reported by: UNBConnect
Reported on: Apr 25, 2012 07:59 pm
Reported in: Business
Dhaka, Apr 25 (UNB) - Dhaka Stock Exchange (DSE) on Wednesday decided to place a set of proposals for the upcoming national budget that include keeping dividend income through share market investment up to Tk 25,000 tax-free.
The decision was taken at the board meeting of the country’s premier bourse to encourage the investors.
The DSE chief financial officer (CFO) Shuvra Kanti Choudhury briefed journalists after the meeting. DSE president M Rakibur Rahman was also present at the briefing.
The other proposals include providing 50 percent tax rebate if any body having Tk 10 lakh annual income, invests Tk 50,000 by opening new BO (beneficiary owner), bringing down tax rate from 42 percent to 37.5 percent imposed on listed insurance companies, banks and financial institutions and simplifying IPO (initial public offering) process.
Meanwhile, two committees - expert panel and jury board - were formed at the board meeting.
Former finance adviser to the caretaker government AB Mirza Azizul Islam was made convener of the jury committee which will select 30 best listed companies for award. The expert panel was formed to handle the technical issues.