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| Charge of tax on retained earnings, reserves or surplus |
Charge of tax on retained earnings, reserves, or surplus, etc. under Section 22 | Bangladesh Income Tax Act -2023:
As per section 22 (ITA-2023),
Charge of tax on retained earnings, reserves, surplus, etc.—
Notwithstanding anything contained in this Act or any other law for the time being
being in force, if in an assessment year, the total amount transferred to retained
earnings or any fund, reserve or surplus, by whatever name may be called, by a
company registered under the Companies Act, 1994 (Act No. XVIII of 1944) and
listed on any stock exchange exceeds 70% (seventy percent) of the net income
After tax of the preceding assessment year, tax shall be payable at the rate of 10%
(ten percent) on the total amount so transferred in that assessment year.