The Internal Resources Division of the finance ministry has cut the stamp duty on registration of trust deed of alternative investment funds to 0.1 per cent from the previous 2 per cent to encourage alternative investment in the country.

The IRD on Sunday issued a statutory regulatory order reducing the duty.

The division also set the maximum stamp duty amount at Tk 10 lakh and the minimum duty at Tk 5,000 on the total value of deed.

The reduced rate of duty, however, will be applicable only for funds approved by the Bangladesh Securities and Exchange Commission, said the SRO signed by IRD senior secretary and National Board of Revenue chairman Abu Hena Md Rahamatul Muneem.

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