Published :
Updated :
For all latest news, follow The Financial Express Google News channel.
Tax collection from the prime bourse jumped 84 per cent month-on-month in April riding on sponsor-directors and placement holders’ shares sale.
The government collected revenue worth nearly Tk 433 million in April which was Tk 235 million in March, an increase of 84 per cent month-on-month, the DSE data shows.
Market analysts said higher shares of sale by sponsor-directors and placement holders in April kept the government earnings afloat despite trading activities fell sharply.
Of the total earnings in April, Tk 363 million came from share sales by sponsor-directors and placement holders.
The daily average turnover on the DSE came down to Tk 3.49 billion in April, which was Tk 4.84 billion in March, 2019, the DSE data shows.
DSEX, the prime index of the DSE, also slumped 289 points or 5.26 per cent during April to close the month at 5,202 points.
The government earned nearly Tk 70 million from the TREC (trading right entitlement certificate) holders’ commission.
The DSE, on behalf of the government, collects tax as TREC holders’ commission and share sales by sponsor-directors and placement holders at the rate of 0.05 per cent and 5.0 per cent respectively and deposits the amount to the government exchequer.
Meanwhile, the government collected revenue worth Tk 2,293 million in 10 months (July-April) in the current fiscal year, rising 11 per cent, from Tk 2,057 million in the same period of the previous fiscal, the DSE data shows.