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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » Here its going to come again with the next budget

Here its going to come again with the next budget

4 posters

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EquityChamp

EquityChamp
Moderator
Moderator

http://www.lankabusinessonline.com/sri-lanka-to-introduce-capital-gains-tax-remove-exchange-control-pm/

Mubin Mustafa


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

Evil or Very Mad Embarassed Embarassed Embarassed Evil or Very Mad  Mubin is getting irritated

samaritan


Moderator
Moderator

In my opinion this will not be imposed on share trading as they have already reintroduced the STL only recently.

EquityChamp

EquityChamp
Moderator
Moderator

The thing with this kind of information is that they can create lot of uncertainties in the mind-set of investors and that uncertainty can do a lot of damage to a stock market. We could experience it very well where the news hit the market earlier and market trash by more than 300 points within one-two days. Such a dangerous news.

samaritan


Moderator
Moderator

EquityChamp wrote:The thing with this kind of information is that they can create lot of uncertainties in the mind-set of investors and that uncertainty can do a lot of damage to a stock market. We could experience it very well where the news hit the market earlier and market trash by more than 300 points within one-two days. Such a dangerous news.
True EC. On the earlier occasion it did create uncertainty, but subsequently the bigwigs of the CSE and Stock Brokers Association made representations vehemently opposing the move of any possible imposition of CGT to share trading and that resulted in the reintroduction of STL.

Therefore, i am confident that this will not be applicable to share trading at all. This will apply mainly to immovable property transactions. The news may discourage investors in that sector to turn to investing in the stock market in the future.

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics

.... If they bring,  it   will create many complications in calculating the tax amounts in our systems

Can our trading and broker systems re program to cater it ?

What is the procedure FIFO or LIFO ?

Investopeia says : Say you are equally invested in two stocks: one company's stock rises by 10%, and the other company falls by 5%. You can subtract the 5% loss from the 10% gain and thereby reduce the amount on which you pay capital gains.

You should get the facility to balance losses and gains to get the final amount. How come broker system do it ? this is not simple as they deduct other taxes and charges in individual transaction.

When you operate many accounts with different brokers ? How I deduct interest paid to margin provider for holding the share ?

What is the value for Time and capital costs ?

Say buy 1 @ 100/- in 2014
sell 1 @ 102/- in 2017  
still you consider  2/- as a taxable profit ?

samaritan


Moderator
Moderator

THIS IS NOT GOING TO BE IMPOSED TO SHARE TRANSACTIONS AND WAS DROPPED EARLIER FOR SEVERAL VALID REASONS INCLUDING WHAT YOU HAVE STATED. THEREFORE ITS POINTLESS CHINWI TO CONTINUE THIS TOPIC. IN CASE IF THEY DID NOT REINTRODUCE THE STL, THEN OF COURSE THERE IS REASON TO FEAR.
 
BUT AS I STATED EARLIER THERE WILL BE A SHIFT FROM REAL ESTATE INVESTMENT TO CSE IN THE BACKDROP OF COMPANIES PERFORMING WELL AND STL BEING INSIGNIFICANT IN COMPARISON TO CGT ON PROPERTY TRANSACTIONS.

HENCE, THIS NEWS IS GOOD TO THE STOCK MARKET. BE READY TO WITNESS A BULL RUN WITH THE IMPENDING RELAXATION OF EXCHANGE CONTROL AS WELL.

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