“We observed that the world is facing high inflation and low growth. Consequently, the World Bank, the International Monetary Fund and other Economic forecasters are trimming down growth estimates with forecasts reflecting sizable downgrades to the outlook for the rest of the year and 2023.
“So, I think for now, given that there are so many considerations, and considering all these factors, we feel the tax rebate should be reinstated and we have been working with the tax and fiscal authorities to advocate the return to the status quo.” Yuguda asssured that despite the harsh operating environment, the Commission will continue to strive and fulfil its mandate of protecting investors and creating an enabling environment for market operations.
“A large number of investors are also still unaware of the eDMMS and have not mandated their accounts. The Commission will however continue to create awareness in this regard.
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