BSEC to pay income tax

The securities regulator will have to pay income tax on its annual income from the fiscal year (FY) 2016-17 as the government introduced a graduated tax rate for the entity through finance bill 2015, officials said.
In this regard, the National Board of Revenue (NBR) has issued a statutory regulatory order (SRO) which came into effect from July 1, 2015.
As per the SRO, the Bangladesh Securities and Exchange Commission (BSEC) will enjoy 100 per cent tax exemption in the FY 2015-16.
The securities regulator will enjoy 80 per cent tax exemption in the FY 2016-17, whereas 60 per cent tax exemption will be applicable for the FY 2017-18, 40 per cent for the FY 2018-19 and 20 per cent for the FY 2019-20.
And no tax exemption will be applicable for the securities regulator from the FY 2020-21.
The income of the securities regulator comes from the IPO (initial public offering) consent, registration fee, BO (beneficiary owner's) account fee and penalty imposed on stakeholders and listed companies.  
The country's both the stock exchanges are also enjoying the tax holiday facilities on its own income at a graduated rate meaning that the exchanges income will come under the tax net from the next fiscal.
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