Views sought on PDP tax law changes

The taxation of distributions from profit distribution plans is the subject of an issues paper released today for consultation. The Government announced on 16 April that it intended to clarify the law to ensure that bonus issues of shares distributed under PDPs are taxed in the same way as shares issued under other dividend reinvestment plans, and that a forthcoming consultative document would canvass views on the more technical aspects of the law change. The issues paper released today sets out the details of a proposed legislative solution. Submissions close on 7 August. For more information see "The taxation of distributions from profit distribution plans".