New Delhi, July 12
The Finance Ministry today said it will look into the applicability of 20% tax proposed in the 2019-20 Budget on the current share buybacks by listed companies.
Finance Secretary Subhash Chandra Garg said the proposed tax on listed companies is aimed at discouraging share buybacks and encouraging investments.
Finance Minister in her 2019-20 Budget speech had proposed to provide that listed companies shall also be liable to pay additional tax at 20% in case of share buyback. — PTI
from The Tribune https://ift.tt/2XLUEu3
via Today’s News Headlines
20% tax likely on buyback by listed firms
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July 12, 2019
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