I was just complaining the other day of the 10% dividend withholding tax in China. But Bank of Communication ('BoCom') really took that up a notch and inflicted a 60% dividend tax on itself (read here).
Maybe David Webb got it all wrong - BoCom is just trying to generate more tax revenue (ie. value) for the government, its ultimate shareholder. Good job creating shareholder value!
No comments:
Post a Comment