Rationalise tax gap between listed, non-listed firms: DCCI

To encourage good companies for listing with the capital market, the tax difference between listed and non-listed companies should be rationalized, Dhaka Chamber of Commerce and Industry (DCCI) president has said.

Rizwan Rahman paid a courtesy call on Bangladesh Securities and Exchange Commission Chairman Shibli Rubayat-Ul-Islam at the BSEC headquarters in Dhaka’s Agargaon on Sunday.

During the discussion, he said as per the Global Infrastructure Hub Report, Bangladesh will need to invest $608 billion from 2016 -2040 in the infrastructure sector. The current trend indicates that Bangladesh will be able to meet $417 billion investment in the infrastructure sector leaving a financing gap of $192 billion from 2016-2040.

“The capital market can play a pivotal role to reduce the investment gap in Bangladesh,” he said. 

The DCCI president noted that the capital market has a huge potential to address the CMSME financing gap as well as encourage businesses to source long-term capital reducing dependence on banks and NBFIs. 

He also urged to relax listing rules for SME companies. “To create a vibrant secondary bond market, priority needs to be given to implementing enabling policy to develop market infrastructure, simplification of the bond issuance process, tax incentives for both issuer and investors, and credible credit rating by the national as well as international credit rating agencies.”

The BSEC chairman said that BSEC already organised several roadshows in the UK, USA and Switzerland to attract foreign investments in the capital market as well as to brand Bangladesh. 

Another one will be organized in Qatar next month, he said, inviting the DCCI to join the roadshow to showcase Bangladesh’s economic advancement.