FE Report | Published: November 20, 2018 10:24:30 | Updated: November 21, 2018 14:13:55
The government has extended the tenure of paying 15 per cent tax on the income of the mutual fund's management by five years more.
On December 5, 2013 15 per cent tax was fixed on the income, which is generated from the management of mutual funds, for five years.
A gazette notification published on November 13, 2018 said the tenure of paying 15 per cent by Asset Management Companies (AMCs) has been extended for another five years.
Yawer Sayeed, managing director of AIMS of Bangladesh, said before 2013 there was no tax on the income that comes from the management of mutual funds.
"15 per cent tax was imposed in 2013 for five years and the tenure of paying same amount of tax has been extended for another five years," Sayeed told the FE.
mufazzal.fe@gmail.com
NBR awards BRAC Bank as one of the highest tax payers
Premier Bank puts thrust on financial inclusion, digitisation
Encouraging trade talks boost European shares
Bazal Ahmed elected vice chairman of UCB
Thrust on raising accountability, transparency in company affairs
Mitsubishi CEO, Summit Group founder meet PM
Easy Build customers to get loan from IDLC
Prime Bank to see ‘total change’ in two years
BB criticised for ‘sexist’ job circular
Santos plans to sell all stakes to KrisEnergy
BKB loses over Tk 1.1 million to theft in Cumilla
Rohingya 'genocide': Myanmar faces hearings at The Hague
'Automation cutting jobs, creating unemployment problem'
Foreigners in BD to get salary in FC accounts
Move to revamp BD missions abroad to spur export earnings
Huge onion imported but price remains prohibitive
Suu Kyi receives waves of support ahead of genocide case
Import taxes on seeds of spices go
© 2017 - All Rights with The Financial Express