The leaders of Bangladesh Association of Publicly Listed Companies (BAPLC) demanded Wednesday the continuation of the 10 per cent tax rebate facility for the listed companies, which disburse more than 20 per cent dividend, officials said.
BAPLC placed the demand in separate meetings with the policymakers of the Bangladesh Securities and Exchange Commission (BSEC) and the National Board of Revenue (NBR).
"The capital market is passing through hard times. That's why we should keep it in mind that the tax measures should be market-friendly," BAPLC president Tapan Chowdhury told the FE.
He said the listed companies earlier enjoyed 10 per cent tax rebate facility for disbursing more than 20 per cent dividend.
"But the facility has been withdrawn in the budget proposal announced for the fiscal year (FY) 2014-15. That's why we have placed our demand for continuation of the tax rebate facility for the sake of investors."
According to Mr. Chowdhury, the companies which are yet to go public will not be inspired following the fresh budget proposals.
"The government has proposed reduction of corporate tax to 35 per cent from 37.5 per cent. I appreciate this. But on the other hand, a company will not be inspired to go public without any tax cut facility," the BAPLC president said.
He said BSEC has realised the logic behind their demand on continuation of the tax rebate facility for the listed companies.
"We also sat with the NBR chairman to make him perceive the facility for the sake of capital market," he added.
BSEC chairman Professor M Khairul Hossain and four commissioners, and BAPLC vice president Mohammed Younus and executive committee member Azam J Chowdhury were present in the meeting.
BAPLC for continuing 10pc tax rebate for listed cos
FE Report | Published: June 19, 2014 00:00:00 | Updated: November 30, 2026 06:01:00
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