2024-06-10 08:27:58
Chairman of the Nationwide Board of Income (NBR) Abu Hena raised the query whether or not the issue of the capital market is elsewhere. Rahmatul Munim mentioned, many individuals suppose that the efficient instruments for the capital market are solely to maintain the obligation charge low. It was stored down for a very long time. What was the capital market in an excellent situation? Earlier there was a number of tax advantages, the results of which we noticed a number of good within the capital market? Does the capital market drawback lie elsewhere? Is the capital market drawback actually recognized?
He mentioned this stuff in response to a query on the post-budget press convention on the Osmani Memorial Auditorium within the capital on Friday (June 7). Finance Secretary carried out the press convention. Md. Khairuzzaman Majumdar.
NBR Chairman mentioned, you at all times suppose that solely tax exemption is an efficient place to develop the capital market. This follow of tax exemption within the capital market was a very long time. Now that it is carried out, I have to generate income. We’re slowly attempting to cut back the quantity of tax exemptions there may be. Many have talked about constructing the Padma Bridge at their very own expense. We wish to do extra Padma Bridge. That is why we have to generate income. One in all its processes is to cut back the world of tax exemption.
He additional mentioned that the 5 p.c margin given right here leads to a company tax of 20 p.c. If company tax is under 20 p.c, we is not going to generate income. Our nation shouldn’t be but on the level of 15 p.c company tax. It isn’t attainable to cut back the tax of those two sorts of corporations listed and unlisted within the capital market. If that is carried out, there can be an enormous risk to NBR’s income assortment.
Finance Secretary of the Ministry of Finance in response to a different query. Md. Khayeruzzaman Majumdar mentioned that there’s nothing concerning the capital market within the funds, it isn’t proper. It isn’t like what can be mentioned within the funds speech. Even then we tried to say one thing concerning the capital market within the funds. Particularly engaged on inexperienced bond financing. Making an attempt to work with the bond marketplace for the long run. For this, Inexperienced Bond has been highlighted within the funds.
Finance Minister Abul Hasan Mahmud Ali, Minister of Native Authorities, Rural Improvement and Cooperatives within the press convention. Tajul Islam, Industries Minister Nurul Majid Mahmud Humayun, Planning Minister Main Basic (retd.) Abdus Salam, Housing and Public Works Minister Ram Ubaidul Moktadir Chowdhury, Prime Minister’s Financial Adviser Mosiur Rahman, Agriculture Minister Dr. Md. Abdus Shaheed, Training Minister Mohibul Hasan Chowdhury Naufel, Commerce State Minister Ahsanul Islam Titu, Finance State Minister Wasika Ayesha Khan, Cupboard Secretary Md. Mahbub Hossain, Bangladesh Financial institution Governor Abdur Rauf Talukder and others have been current.