Finance Bill set to tax individual investors' capital gains of over Tk50 lakh: Sources
The amended Finance Bill is set to continue the initial proposal for taxing individual investors' capital gains of over Tk50 lakh from publicly listed company shares and fund units, according to parliament sources.
However, it is going to exclude the same of sponsors, directors or placement shareholders, as their gains are subject to 10% tax at source and adjustable during the tax return filing.
Besides, the cashless transaction criteria — mandatory banking transaction for above Tk5 lakh at a time and Tk36 lakh in annual total — will remain for firms to enjoy the initially proposed income tax benefits.
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Also, the over 10% shareholding by the capital market investors remained a boon for listed firms looking to minimise their tax bills.
On the other hand, mobile phone operators have been offered a 10% tax rebate for the specific year of transferring at least 20% of the total shares through initial public offering (IPO).
However, the placement shares cannot be more than 5% of the total shares of a mobile operator if it wants to avail tax benefits.
