Business Report :
Investors are losing confidence in the stock market due to a number of factors including the lack of quality IPOs, insufficient transparency and accountability from intermediaries and regulators, the DSE Brokers Association of Bangladesh (DBA) has said.
The factors also include the imposition of a capital gains tax in the proposed national budget, said Md Saiful Islam, president of the DBA, on Tuesdayat a post-budget press briefing held at its office premises.
The DBA urged the government to withdraw the capital gains tax, stating that the new tax burden negatively impacts an already gloomy market.
Additionally, the DBA presented a seven-point list of demands, calling for reconsidering key proposals in the final budget.
These proposals include the withdrawal of the capital gains tax, creating a roadmap for listing government-owned companies, a tax waiver for new beneficiary owners, and reducing the tax rate on commission income from share transactions by brokerage firms.