Bangladesh Securities and Exchange Commission (BSEC) Chairman Professor Shibli Rubayat-Ul Islam has assured that no tax will be charged on capital gains from the stock markets.
He made the remark while talking to the leaders of the Capital Market Journalists’ Forum (CMJF) during a courtesy call at his office in Dhaka on Tuesday.
CMJF President Golam Samdani Bhuiyan, General Secretary Abu Ali, former president Ziaur Rahman and executive committee members were present at the time.
Shibli said, “The International Monetary Fund (IMF) gives different advice to Bangladesh every year. One of them is the imposition of tax on capital gains. But this is not possible in the current context. They discussed the matter with the National Board of Revenue (NBR). NBR will not impose tax on capital gains.”
He said that other countries around the world are moving forward through bond issues. “We have to go there too. The government’s development works should be done through bond issues. Then the people’s tax burden will reduce.
“One of the main goals will be to move the country's economy forward through the stock market in the next four years.”
He said, “I have also told Biman Bangladesh Airlines to buy 10 aircraft. We will approve bonds for them. I told them, ‘You don't need to go to the government for money. The foreigners will buy the bonds and it will get back to them after eight years.’”
Regarding his reappointment for four more years, the BSEC chief said, “I just want to do something good for the stock market.”
