Bangladesh's stocks slip into red on Sunday
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Dhaka, Bangladesh, July 1 -- Bangladesh's stocks posted a marginal fall on Sunday, the last session of the outgoing fiscal year, despite the government reduced tax on retained earnings.
Parliament on Saturday passed the tax measures for the fiscal year (FY) 2019-20, reducing tax on retained earnings and reserves of companies to 10 per cent from initially-proposed 15 per cent in the face of outcry from businesses.
Listed companies will also have to pay cash dividend equal to the ratio of stock dividend. If the ratio of stock dividend is higher than the cash dividend, the company will have to pay 10 per cent tax on stock dividend.
Investors expressed mixed reaction as some argued that the step would discourage business expansion while so...
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