Deduction of withholding tax on bond transactions proposed

Finance minister AHM Mustafa Kamal in his budget speech proposed for provision deducting withholding tax on the commission of bond transactions.

He said, "I propose the introduction of withholding tax deduction on the commission fixed by the Securities and Exchange Commission (SEC), the regulatory body for the capital market. I hope that these measures will increase transactions of bonds in the capital market and facilitate the flourishing of a strong bond market in the country."