Dhaka, Bangladesh (BBN)-Bangladesh Association of Publicly Listed Companies (BAPLC) on Wednesday demanded reduction of listed companies’ tax in the FY 2014-15.
Leaders of BAPLC placed the demand at a meeting with the Bangladesh Securities and Exchange Commission (BSEC).
The BAPLC leaders also demanded continuation of the existing tax waiver facility on listed companies’ dividend.
After the meeting, president of the BAPLC Tapan Chowdhury said that the government proposed tax cut on non-listed companies (from 37.5 percent to 35 percent) in the proposed budget in the FY 2014-15.
But, the listed companies’ tax does not reduce on that way which will discourage good companies to come into stock market, said Chowdhury.
On the other hands, the withdrawal of the provision for 10 percent tax rebate for companies declaring more than 20 percent dividend is very discouraging, he said adding that it will affect the stock market investors.
Previously non listed companies used to pay 37.5 percent tax whereas listed companies paid 27.5 percent tax.
Listed companies with 20 percent plus dividend used to pay 24.75 percent tax (due to 10 percent tax rebate).
There was no specific motivation for market while tax for non-listed companies was reduced.
BSEC Chairman Prof M Khairul Hossain presided over the meeting held at the BSEC office.
BBN/BB/ANS-18June14-4:10pm (BST)
