Govt to realise Tk 4.10b revenue from bourses, CDBL in outgoing FY

The government is going to realise revenue worth above Tk 4.10 billion from both the bourses and Central Depository Bangladesh Limited (CDBL) in the outgoing FY 2016-17.
The revenue received by the government gradually rose during the FY 2012-13 to FY 2016-17 as the country's capital market gradually became stable after the 2010-11 stock market debacle.
Before the market debacle, the government received the highest ever revenue worth above Tk 6.25 billion in the FY 2010-11 from the stock exchanges and the CDBL because of record high turnover observed on the stock exchanges during that period, according to information of Dhaka Stock Exchange (DSE).
The DSE observed an average daily turnover of around Tk 16.50 billion in the calendar year 2010 and the value dropped to around Tk 4.42 billion in 2012. The DSE observed an average daily turnover of Tk 4.34 billion in the FY 2015-16 and Tk 7.55 billion in the FY 2016-17.
The stock exchanges and the CDBL collects revenue from brokers' commission charged on share transactions, transfer of membership, sales of shares by sponsor-directors, BO (beneficiary owner's) account maintenance fee, dividend disbursement and the company's own income.
The premier bourse DSE, Chittagong Stock Exchange (CSE) and CDBL is likely to deposit above Tk 4.10 billion as tax to the government's exchequer in the FY 2016-17. The exchanges said the amount may vary as the CDBL is yet to calculate the amount of government's revenue to be paid from the company's own income.
Of Tk 4.10, above Tk 2.82 billion will come from premier bourse DSE, Tk 232.70 million from the port city bourse CSE and above 1.05 billion from the CDBL.
The officials of the CDBL said they are yet to calculate the amount of tax on the company's own income, although they had already paid around Tk 380 million as advance income tax for the FY 2016-17.
"In the FY 2015-16, the CDBL paid Tk 430 million as tax on the company's own income. In the outgoing FY the actual tax on own income may be above Tk 380 million," said an official of the CDBL.
In the FY 2016-17, the DSE has calculated Tk 2.82 billion to be deposited as tax to the government's exchequer.
Of Tk 2.82 billion, Tk 1.80 billion will come as tax at source from broker's commission charged on transaction of shares, Tk 662.30 million from sales of sponsor-directors' shares, Tk 10.30 million from transfer of exchange's membership and Tk 346.80 million from the dividend disbursed for the FY 2015-16.
In the outgaining FY 2016-17, the port city bourse CSE will deposit Tk 232.70 million as tax charged on brokers' commission, sales of shares by sponsor-directors and dividend disbursement from.
In the FY 2015-16, the government realised Tk 3.08 billion as tax collected by both the stock exchanges and the CDBL. Of Tk 3.08 billion, above Tk 1.93 billion came from the DSE, Tk 100.40 million and above Tk 1.04 billion from the CDBL.
In the FY 2014-15, above Tk 3.18 billion was deposited to the government's exchequer by the DSE, CSE and the CDBL. In that FY, the DSE deposited above Tk 1.74 billion, the CSE Tk 121.30 million and the CDBL above Tk 1.31 billion.
The government received revenue worth above Tk 2.59 billion in the FY 2013-14 from the stock exchanges and the CDBL, while above Tk 2.34 billion was deposited by three organisations in the FY 2012-13 and above Tk 4.24 billion in the FY 2011-12.
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