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Majlis Passes Law on Tax Cuts for Listed Companies

The parliament on Wednesday approved laws based on which companies that recapitalize using share premiums will be eligible for tax breaks. 
As per the new legislation, listed companies will get tax cuts on their net profit equivalent to 20% of the value of the increased capital via share premium.   
Share premium is the difference in price between the par value, or face value of shares, and the total price a company received for recently-issued shares. 

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