Further, it noted that in furtherance to the circular dated May 20, 2019, the minimum paid-up share capital shall be through any or a combination of the following; existing paid-up share capital; cash payment for new shares issued; retained earnings - capitalisation of undistributed profit
; payment in kind (other than by way of cash) for new shares issues such as properties; treasury bills; shares; bond which must be converted to cash not later than three months to the deadline for recapitalisation and share premium.
There was another proposal that tax on undistributed profit
be done away from July 1.
According to the agreement, each Target Company would distribute not less than 30% but not more than 50% of its undistributed profit
to its shareholders as dividends each year.
We need to prevent all speculations that you will probably hear from the government that there is undistributed profit
here," stated in turn another BSP MP, Dimcho Mihalevski.
The bank's management forecasts that this year undistributed profit
will be sufficient to guarantee crediting growth and retain acceptable capital adequacy ratios.
24 November 2011 - UralSib Bank's (RTD:USBN) shareholders at an extraordinary general meeting gave the green light for spending RUB731.4m (USD23.2m/EUR17.4m) of undistributed profit
on dividends, the Russian bank said in documents Prime saw on Wednesday.
In previous years, however, the insurer set aside part of its income as undistributed profit
and the dividend could be paid out of its retained earnings.
When projecting the budget 2010, the Government said it would continue implementing the system of calculating profit tax whereby tax payers are freed of the responsibility to pay tax based on undistributed profit
. The Government believes that in this way companies have more room to reinvest their profit.
Nanda, 1994, "Free Cash Flow, Shareholder Value, and the Undistributed Profit
Tax of 1936 and 1937," Journal of Finance (December), 1727-1754.
To put a smile on the face of barons the government offered to remove taxes on undistributed profit
, granted a five-year tax exemption to industries for establishing plants to manufacture equipment for renewable energy units and promised to remove 4pc super tax from the non-banking sector from the next fiscal year.
Despite these costs, Bulgarian banks managed to generate a profit, which added to the undistributed profit
for 2010 and "strengthened the capacity of the system and of individual banks to offset the negative impact of the deteriorating loan portfolio," the central bank said.
Tax on undistributed profit
levied at 5pc on corporations in instances where 20pc of earning have not been distributed as dividends has been abolished from FY2020.