DSE urges NBR not to impose capital gains tax on stock investors

He said various media outlets had reported that the NBR plans to impose a tax on capital gains for individual investors. 

This news has created fear and panic among investors, if capital gains tax is imposed on small investors, the market condition will deteriorate further, he said at a pre-budget press briefing held on Tuesday at Dhaka Club.

He said the market has been going through a transitional period for a long time since the Ukraine war began which forced the regulator to impose floor price.

The DSE Chairman has requested the NBR Chairman to consider the interests of investors and not impose a tax on capital gains.

According to media reports, the NBR move to impose a 15 per cent tax on individual investors’ capital gains over Tk 4 million from the stock market recently triggered a fresh round of sell-offs.

Even, the daily trade turnover on the Dhaka bourse plunged to a five-month low to Tk 3.23 billion On Sunday amid growing tension that kept the investors mostly reluctant to put fresh funds in stocks.

Alongside, the key index shed 446 points in nine trading days while the index lost more than 1,085 points or 17 per cent since the removal of floor price in January this year. At the same time, the market value shed Tk 1.41 trillion.

However, the prime index managed to recover almost 60 points on Monday riding on the news that the prime minister asked the relevant authorities to form a committee to resolve the stock market’s existing problems when the business leaders held a meeting with the prime minister on Saturday evening.

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