Eight proposals going for development of capital market

BSEC chairman Prof Shibli Rubaiyat-ul-Islam has said that seven to eight proposals are going on in the next budget (2021-22) for the development of the capital market.

The BSEC chairman made the remarks at a press conference after the road show in Dubai at the BSEC conference room on Monday (February 22nd).

BSEC chairman Prof Shibli Rubaiyat-ul-Islam said the commission was working to bring good companies to the capital market. But to bring a good company to the market, you have to give some incentives. After reviewing the overall issues, BSEC is sending seven to eight proposals in the next budget (2021-22). If these proposals are accepted, he thinks it is possible to bring some good companies in the capital market.

The BSEC chairman said one of these is listed and not listed; The tax rate gap of such a company. At present it is 6 and a half percent. We are proposing to make it 15 percent.

The second is to provide special funds to strengthen the ICB in the interest of the capital market.

Third, increase tax benefits to make the bond market more dynamic. Tax benefits on other bonds such as zero-coupon bonds. Especially Sukuk bonds.

The fourth is to withdraw the giant tax rate. Currently, a company pays taxes and pays dividends to investors. Again when investors pay separate taxes; You have to pay tax on that money again. This is hurting investors.

Fifth, the tax rate of merchant banks is much higher. It has been proposed to reduce it. There are a few more points beyond this, said Professor Shibli Rubaiyat-ul-Islam, chairman of the regulatory body.

Sunbd/NJ