Bangladesh Bank in a circular yesterday directed scheduled banks to follow a National Board of Revenue (NBR) clarification to cut source tax on the interest income or profit of mutual funds from associated fixed deposits with the banks.
The unit prices in the mutual fund sector have dropped over the past few weeks even though they disbursed handsome dividends in recent times as the National Board of Revenue (NBR) suggested deducting source tax from the cash dividend income.
The mutual fund sector should perform better as it has failed to play the expected role in developing a strong stock market in Bangladesh, stock market analysts said today.
Bangladesh Bank in a circular yesterday directed scheduled banks to follow a National Board of Revenue (NBR) clarification to cut source tax on the interest income or profit of mutual funds from associated fixed deposits with the banks.
The unit prices in the mutual fund sector have dropped over the past few weeks even though they disbursed handsome dividends in recent times as the National Board of Revenue (NBR) suggested deducting source tax from the cash dividend income.
The mutual fund sector should perform better as it has failed to play the expected role in developing a strong stock market in Bangladesh, stock market analysts said today.
