Dhaka, Bangladesh (BBN)-The Bangladesh government’s revenue earnings from Dhaka Stock Exchange (DSE) increased slightly in the outgoing fiscal year compared to the previous fiscal.
The government bagged tax at above BDT 1.72 billion in the fiscal year 2014-15, whereas the revenue collection was above BDT 1.53 billion in the FY 2013-14, the DSE said.
Of BDT 1.72 billion, revenue over BDT 1.12 billion came from transaction of shares executed through the DSE during the FY 2014-15, the DSE data showed.
During the same period, tax revenue above BDT 609 million came from the sales of sponsor shares.
The revenue earning was the lowest in February of the FY 2014-15 as the turnover value declined significantly in that month on the premier bourse.
In February of the FY 2014-15, the DSE witnessed turnover ranging between BDT 1.86 billion and BDT 3.46 billion.
The highest amount of revenue around BDT 175.8 million was earned in September of the FY 2014-15 due to increased turnover in the premier bourse.
In the FY 2013-14, the government’s revenue earnings were above BDT 1.12 billion and over BDT 413 million came from transaction of shares and sales of sponsor shares respectively.
The market insiders said, the revenue earnings remained almost same during the FY 2013-14 and FY 2014-15 as trading volume was thin amid investors’ shaky confidence. The government’s earning calculated on turnover.
The government’s revenue comes from taxes imposed on share transaction and sales of sponsors’ shares.
The TREC (trading rights entitlement certificate) holders pay tax on turnover at a rate of 0.05 per cent whereas the sponsors pay 5.0 per cent tax on the sales of their shares.
BBN/BB/AI