Buybacks grind to a halt after tax burden shifts from firms to shareholders

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Buybacks grind to a halt after tax burden shifts from firms to shareholders - Business Standard

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Share buybacks have all but disappeared following a rule change on October 1 last year that shifted the tax burden from companies to shareholders.

Under the revised norms, buyback proceeds are taxed as dividends at the shareholders’ applicable income-tax rates, significantly increasing the liability for high-networth individuals and institutional investors in the highest tax bracket.