6 clauses of stock exchange protection in the budget bill 1401 / capital market tax goes back to itself

According to the economic correspondent of Fars News Agency, ‌ One of the slogans of the 13th government was to support investors in the stock market, and the Minister of Economy also sought to regulate this market. Currently, the stock market index is not in a good position and has witnessed a decline in the past few months.

Despite some news in cyberspace about the impeachment of the Minister of Economy due to the fall of the stock market index, but in recent days, in connection with the government’s support for the stock market, 10-point approvals were published by the government’s economic headquarters.

In addition to these discussions, it was said that the proposals of the Ministry of Economy to support the stock market were not accepted in the budget bill, to which the Program and Budget Organization responded.

What is certain is that the 13th government presented its first budget focusing on economic growth and inflation control to the parliament, in which special attention was paid to the capital market and listed companies, including tax cuts, strengthening the capital market stabilization fund, and reforming the 4200 currency. Toman and the stabilization of the ownership interest of the mines mentioned some of the budget protection provisions of the stock exchange.

In general, the arrangements and measures considered in the 1401 budget bill of the whole country and its general positive effects on the stock market are as follows:

1- According to row (5) of the table of note (14), modification of fuel gas rate of petrochemicals, refineries and downstream industries, steel recovery complexes and utility related expenses including electricity, water, oxygen, etc., equivalent to 30% of the feed rate Petrochemical gas Has increased by 100% and for the cement and other industries is equivalent to 10% of the petrochemical feed rate, ie no increase compared to the previous year. This change will not have negative effects on other industries. In the case of steel and mining industries, given the other characteristics of the market, this change will have a negative impact on the profitability of these companies.

2- Pursuant to paragraph (f) of Note (6), in line with production protection policies, the tax rate subject to Article (105) of the Law on Direct Taxes of Legal Entities with Operating Licenses of Relevant Ministries in Production Activities in 1400 is equal to twenty percent (20%). ) Determined. This pardon is in addition to other exemptions, pardons and legal incentives of the mentioned persons. This reduction has a very positive effect on the profitability of these units, industries and companies.

3- In the prescribed bill, the profit tax is paid directly to the account of the Stock Exchange Stabilization Fund and the debts of the National Development Fund are settled with this fund, which is also in the interest of the market. Cost credits in consideration Taken. These actions of the government in connection with the transfer of independent resources to the stabilization fund will lead to the return and strengthening of trust in the market.

4- Last year, about 180 thousand billion Tomans of bonds were considered in the budget, but in Note (5) of the 1401 budget bill, the government intends to earn 86 thousand billion Tomans from the transfer and sale of various financial and Islamic bonds. This figure in Bill The government’s proposal shows a 33 percent reduction, and if it releases the $ 50,000 billion that has been licensed by the heads of state this year, next year it will see a 51 percent reduction in bond sales. If we put this figure next to the significant amount that the government will have to pay next year to repay the bonds issued in previous years, we can hope that the stock exchange is no longer the government financing fund and its budget deficit and can go on. Return to your normal and balanced. In the acquisition of financial assets, repayment of 128 thousand 296 billion tomans has been considered.

5- Elimination of 4200 Tomans currency will also have a very positive effect on the market. Overall, the budget and related news have been positive so far.

6- Of course, considering the obligations that the parliament and the government have towards the capital market and the companies listed on the stock exchange, it is necessary to eliminate the mandatory pricing on the agenda as well. To be placed. With this measure, the capital market can move from a declining situation to stability and an increase and growth of stock market indices in all directions.

It is hoped that the government’s actions in the budget will be in line with the ambiguities in the numbers and will lead to greater transparency in the capital market, and as a result, we will see the stabilization of conditions in the stock market and its prosperity with regard to corporate profitability. This budget has been proposed by the government to the parliament and may change according to the opinions of the members of parliament, however, due to the alignment of the parliament and the government this year, it does not seem that there will be much change in the budget this year.

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