Regulatory Alerts2023-08-22
Added
DFIM Circular Letter No. 19: Deducting source tax from profit against term deposit of mutual fund
The Department of Financial Institutions and Markets of Bangladesh Bank directs all financial institutions operating in Bangladesh to strictly follow the instructions contained in the National Board of Revenue letter dated August 1, 2023, regarding the deduction of source tax from profit against term deposits of mutual funds. This directive is issued under the powers granted by Section 18(6) of the Financial Institutions Act, 1993.
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