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Nov 21, 2013 (LBO) - Sri Lanka finance companies with subsidiary finance companies as well as banks having subsidiary finance companies will be asked to merge, President Mahinda Rajapaksa said.
Finance companies play in a sub-prime sector catering to riskier customers that are not served by banks.
President Mahinda Rajapaksa who is also finance minister said banks, finance, insurance and manufacturing companies that are now charged 28 percent corporate tax will get tax breaks for listing.
Companies that list will get a three year tax holiday at half the rate.
http://www.lankabusinessonline.com/news/sri-lanka-finance-companies-asked-to-merge,-tax-breaks-for-listing/1061535532
Finance companies play in a sub-prime sector catering to riskier customers that are not served by banks.
President Mahinda Rajapaksa who is also finance minister said banks, finance, insurance and manufacturing companies that are now charged 28 percent corporate tax will get tax breaks for listing.
Companies that list will get a three year tax holiday at half the rate.
http://www.lankabusinessonline.com/news/sri-lanka-finance-companies-asked-to-merge,-tax-breaks-for-listing/1061535532
