DHAKA: Bangladesh Association of Publicly Listed Companies (BAPLC) expressed concern over the imposition of tax on capital gains and primary shares in the proposed budget 2010-11 FY.

“The government should give one year more before imposing such a kind of tax,” said Salman F Rahman, President of BAPLC. 

The demand came from a press conference on budget reaction at a hotel in the capital.

The leaders of the organization also demanded cancellation of the 5 percent tax on incomes of company shareholders and directors.

Moreover, they suggested lowering the proposed tax on share transactions from 10 percent to 5 percent.

The President of BPALC and vice-president of BEXIMCO Group, Salman F Rahman, said the market has been on the rise since January and the tax could interrupt the current market.

To keep the market stable he suggested giving one year more time to investors.

Moreover, he proposed in the briefing Tk 500 as annual tax for BO account along with keeping the brokerage-house tax unchanged.

Merchant Bank Association president Arif Khan and DSE president Shakil Rijvi also addressed the press meet.

BST 1949 HRS, June 19, 2010
MAM/MMK/ARF/MMA/MUA