Dhaka, Bangladesh (BBN)- The government is actively considering reintroduction of gain tax in the country’s capital market from the next fiscal year aiming to expand the tax net and increase revenue earnings.
Finance minister AMA Muhith last week asked officials of his ministry to prepare a report for the reintroduction of gain tax in the capital market, the New Age, a local newspaper reported quoting sources. The newspaper also said that the report is expected very shortly.
The gain tax from share transfers of companies listed in the Securities and Exchange Commission was withdrawn through an ordinance nearly seven years ago.
An official of the finance ministry said a huge amount of tax is expected to come from the capital market which now has 240 listed companies in the stock exchanges.
BBN/SS/SI/AD-04May10-10:28 am (BST)
