Budget 2024: How Share buybacks will be taxed from 1st Oct 2024

Share buybacks will be taxed as a dividend with the cost of acquistion set as as capital loss from 1st Oct 2024. Why was this done? The budget memorandum states, “Both dividend as well as buy-back are methods for the company to distribute accumulated reserves and thus ought to be treated similarly.” It further adds,...

The post Budget 2024: How Share buybacks will be taxed from 1st Oct 2024 appeared first on freefincal.