The proposed tax on capital gains is not being withdrawn in the 2024-25 budget. According to the sources of the National Board of Revenue, the matter is known. The proposed budget for the fiscal year 2024-25 will be passed by the national parliament tomorrow on June 30.
Finance Minister Abul Hasan Mahmud Ali presented the proposed budget for the fiscal year 2024-25 in the Jatiyo Sangsad on June 6. In the proposed budget, it has been proposed to keep capital gains up to Tk. 50 lakh in the stock market tax-free. However, if the capital gain is more than Tk. 50 lakh, the tax will be applicable.
Income tax will be collected from taxpayers in two ways. First, if an individual makes a profit by selling the shares within five years of buying the shares, they will have to pay tax according to their income tax bracket. Secondly, if a person buys shares and makes the same profit after five years, his tax calculation will be different. In this case also his Tk. 50 lakhs will be tax free. Income tax of Tk. 15 thousand at the rate of 15 percent has to be paid on the remaining Tk. one lakh.
Before presenting the budget, Bangladesh Securities Exchange Commission (BSEC) Chairman Professor Shibli Rubaiyat-ul-Islam said that gain tax is not being imposed on ordinary investors.
But when the proposal of gain tax was raised in the budget, he later met the Chairman of the National Board of Revenue and said that there will be no capital gain tax in the final proposal of the budget for the fiscal year 2024-25.