Dhaka, Bangladesh (BBN)-The government has proposed to deduct taxes at a rate between 3.0 percent and 5.0 percent from the gains realised by individual investors of the capital market.
The proposal of deducting tax from realised gains of the securities traded in the stock exchanges has been mention in the Finance Bill 2014-15.
According to the Finance Bill for the FY 2014-15, any person, not being a company or firm or a sponsor shareholder or director of a company or a placement holder of a company or a mutual fund, will have to pay tax at the rate of 3.0 percent of the realised gains if his gains surpass Tk 1.0 million but do not exceed Tk 2.0 million.
And the individual investor will have to pay tax at the rate of 5.0 percent of the realised gains, where such gains exceed 2.0 million.
“The Principal Officer of a company holding Trading Right Entitlement Certificate (TREC) of any stock exchange dealing in shares or securities listed with such stock exchange shall deduct the tax imposed on the capital gains before closing of a financial year under the section 15 of the Demutualisation Act, 2013,” said the Finance Bill.
BBN/BB-05June14-7:40pm (BST)
