The two stock exchanges and merchant bank associations of the country are looking for an opportunity to invest the undisclosed money in the capital market in the next financial year. Officials of these organizations said that if the opportunity to invest black money in the capital market without question, the market will be strengthened as well as the government's revenue will be. Money laundering will also be reduced.
Officials of Dhaka Stock Exchange (DSE), Chittagong Stock Exchange (CSE) and Merchant Bank Association made this proposal on Tuesday with the National Board of Revenue (NBR) for the 2022-23 fiscal year.
At present, the undisclosed money will be invested in the capital market by paying 26.5 percent tax. The funding of this facility will be completed on June 30. People associated with the capital market have proposed to pay this facility at least until June 2023.
At the same time, Bangladesh Merchant Bankers Association has proposed to bring the tax rate of the companies listed in the country's capital market to 15 percent in the 7 percent commiss. Chatedur Rahman said, ‘The corporate tax rate of companies listed in Sheterbazar is 22.50 percent. But even in this tax rate, many good companies are not eager to be listed in the capital market. But there is a considerable shortage of good companies in the market. Therefore, to make good companies interested in the market, I am proposing to bring this tax rate to 15 percent.’
The meeting held at the NBR chief office was chaired by the organization's member (customs policy) Md. Masood Sadiq, who said that the taxpayers expressed dissatisfaction with the opportunity to show or invest in undisclosed money, but those who wanted the benefit did not stand by. DSE chief operating officer M Saifur Rahman Majumdar said, ‘It is necessary to continue investing in the undisclosed capital market, which will generate investment in the capital market and the revenue of the government.’ He also wants to reduce money laundering and want to invest 5 percent tax in the capital market in the next financial year.
