Singer Bangladesh to merge with subsidiary to cut costs

Publicly listed Singer Bangladesh Ltd will merge with its non-listed subsidiary company, International Appliances Ltd, in order to curb costs by reducing corporate taxes.

An official of Singer Bangladesh told The Business Standard that the merger will help reduce corporate taxes as non-listed companies must pay a 32.5 percent corporate tax, whereas listed ones only have to pay 25 percent.

Publicly listed Singer Bangladesh Ltd will merge with its non-listed subsidiary company, International Appliances Ltd, in order to curb costs by reducing corporate taxes.

An official of Singer Bangladesh told The Business Standard that the merger will help reduce corporate taxes as non-listed companies must pay a 32.5 percent corporate tax, whereas listed ones only have to pay 25 percent.

Read more

Share this post

Leave a Reply

Your email address will not be published. Required fields are marked *