The Securities and Exchange Commission (SEC) on Tuesday placed an eight-point recommendation to the finance ministry for the upcoming budget, which includes tax waiver on dividends of mutual funds to make the stock market a vibrant one.

It also suggested exempting the newly listed firms from tax.

“Execution of the eight recommendations will definitely cast a positive impact on the country’s stock market” SEC Chairman M Khairul Hossain told reporters after submitting the recommendations to Finance Minister AMA Muhith.

SEC members-- M Arif Khan and Helal Uddin Nizami--accompanied Khairul Hossain during the formal submission of the report at finance minister’s office.

In the recommendations, the SEC urged the government to keep dividend income tax-free up to Tk 25,000, Khairul Hossain informed.

The market regulator also proposed to 15 percent tax waiver for if any company lists on the stock exchanges for the first time, the SEC chairman said.