Bangladesh's stocks rebound on tax review expectation
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Dhaka, Bangladesh, June 27 -- Bangladesh's stocks rebounded on Wednesday as investors showed their buying appetite on tax review expectations.
Tax review expectations coupled with June closing year-end earnings and dividend declarations prompted investors to inject fresh funds on stocks, according to market insiders.
The Finance Minister AHM Mustafa Kamal proposed, among other, imposition of 15 per cent additional tax on retained earnings and reserves, if the amount exceeds 50 per cent of the paid-up capital of the company.
The finance minister also proposed imposition of 15 per cent tax on stock dividend to promote cash dividend as part of efforts to increase money flow into the stock market.
In the wake of strong criticism from mark...
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