Sri Lanka to impose capital gains tax on stocks – minister

Meman

Meman

Manager - Equity Analytics

Posts : 207
Join date : 2014-03-04

Wait till ECTA is signed. There will be more chaos.

This government will go home in the next couple of years.

VAT on Cigarette not imposed yet but on healthcare products they have . What else can I say.

samcader

samcader

Manager - Equity Analytics

Posts : 247
Join date : 2012-05-14

During the last one year very few stock market investors would have earned any profits CGT on stock market transactions would be a stupid move it may kill the sri lankan stock market

Gainer

Gainer

Associate Director - Equity Analytics

Posts : 3451
Join date : 2011-03-13

if you have profit you can pay small tax for development of our country nothing wrong economy will move up then good for share market

EXP; if you have 10000 profit tax only 1000 this nothing wrong

culculation every year end tax only for your balance of profit

if you have small profit no tax.

tax only for multi million profit makers

ccsentha

ccsentha

Vice President - Equity Analytics

Posts : 1021
Join date : 2011-04-22

Gainer wrote:if you have profit you can pay small tax for development of our country nothing wrong economy will move up then good for share market

EXP; if you have 10000 profit tax only 1000 this nothing wrong

culculation every year end tax only for your balance of profit

if you have small profit no tax.

tax only for multi million profit makers

multi million deals will not take place or will reduce, it's going to be a chaos at CSE. new companies will not list on stock market as their would be no real benefits. if they list and then need to sell their stake they would need to pay a tax, so they would prefer to have it private rather than listing on CSE.

already cse is struggling as it's a small market with fewer companies, rather than encouraging more companies to list in cse, this tax is going to discourage them.

ccsentha

ccsentha

Vice President - Equity Analytics

Posts : 1021
Join date : 2011-04-22

and it doesn't matter how much you earn, but no one likes to pay a tax, specially when companies pay all sorts of taxes

and it has been all taxes, but no development no good work nothing.

only taxes and prices of goods are increasing.

hotstock

hotstock

Manager - Equity Analytics

Posts : 265
Equity Stars : 5230
Reputation : 3
Join date : 2011-01-27

This is my view:

1) What's potential
There will be so many complications in implementing CGT specially on equities. We should not believe these mere statements by politicians as they talk for a moment and forget. They will understand the practical difficulties only when they start to research how to implement. Since transaction levy is added back it's very unlikely CGT will apply to equities.

2) Worst case
Even if they want to implement, it will take at least a year to do so. They will have to do analysis which wont happen in a month or two. Having said that, even if the implement it will be about 10% of your PROFITS. (NOT on market value). Being panic and selling 10% less the market value is a pathetic situation.

Please stay calm, think and do the right anlaysis. If we see the trading volumes it's mostly small retailers have been selling in small quantities. so, THINK.

ccsentha

ccsentha

Vice President - Equity Analytics

Posts : 1021
Equity Stars : 6285
Reputation : 20
Join date : 2011-04-22

hotstock wrote:This is my view:

1) What's potential
There will be so many complications in implementing CGT specially on equities. We should not believe these mere statements by politicians as they talk for a moment and forget. They will understand the practical difficulties only when they start to research how to implement. Since transaction levy is added back it's very unlikely CGT will apply to equities.

2) Worst case
Even if they want to implement, it will take at least a year to do so. They will have to do analysis which wont happen in a month or two. Having said that, even if the implement it will be about 10% of your PROFITS. (NOT on market value). Being panic and selling 10% less the market value is a pathetic situation.

Please stay calm, think and do the right anlaysis. If we see the trading volumes it's mostly small retailers have been selling in small quantities. so, THINK.

and to add to that, calculating purchase dates and selling date and price gain will need new systems. surely they cannot charge a tax when some one sells at a capital loss, so to have an IT system which can do all these computations automatically and accurately would take some time, unless they spend huge sums and buy a already running system from uk, usa etc...

Teller

Teller

Moderator

Posts : 5640
Equity Stars : 17142
Reputation : 232
Join date : 2013-06-25
Location : Abhudhabi

No more capital gain tax for stocks.Prime minister assured. Official news will come soon

cseguide

cseguide

Vice President - Equity Analytics

Posts : 1332
Equity Stars : 6387
Reputation : 56
Join date : 2011-04-20

Teller wrote:No more capital gain tax for stocks.Prime minister assured. Official news will come soon

yes earlier also he said no CGT , then yes CGT , now no CGT.......again yes...no... yes...no

His all decisions are vague .

Miss-Sangeetha

Miss-Sangeetha

Moderator

Posts : 763
Equity Stars : 4156
Reputation : 288
Join date : 2016-06-27
Age : 28

Teller wrote:No more capital gain tax for stocks.Prime minister assured. Official news will come soon

Good news but authenticity is subject to your previous investment story with rental free office space requested by investor.

TARGET

TARGET

Senior Manager - Equity Analytics

Posts : 545
Equity Stars : 3454
Reputation : 28
Join date : 2016-06-29

Teller wrote:No more capital gain tax for stocks.Prime minister assured. Official news will come soon

Tx Teller. We'll see. Reversal is nearing. RSI 22. Over-sold situation. That's mean few sellers. Eventually buyers will take the control so as bull.

Suranga malli

Suranga malli

Senior Manager - Equity Analytics

Posts : 344
Equity Stars : 3300
Reputation : 5
Join date : 2016-05-04

Telllerta hal keli shares buy karapu ewa sale karanna thiyennawa wage...Api kohoma hari teller ta help ekkak withiyata hari hal keli vedi gannata buy karamu..

samaritan

samaritan

Moderator

Posts : 4126
Equity Stars : 9157
Reputation : 188
Join date : 2015-05-16

samaritan wrote:I FEEL RW IS BEING MISLEAD & MISDIRECTED BY HIS OWN SO CALLED ADVISERS FOR REASONS ONLY BEST KNOWN TO THEM.

If Teller's news on CGT is true then what i felt is correct. There are some disgruntled element/elements in PM's camp itself.

Sponsored content

Name*:
Phone number:
Email address*:
Comments*:
* - required fields	Learn

Name*:
Phone number:
Email address*:
Comments*:
* - required fields	Learn

Latest topics

Sri Lanka to impose capital gains tax on stocks – minister

26 Re: Sri Lanka to impose capital gains tax on stocks – minister Wed Jun 29, 2016 11:21 am

Meman

27 Re: Sri Lanka to impose capital gains tax on stocks – minister Wed Jun 29, 2016 12:52 pm

samcader

28 Re: Sri Lanka to impose capital gains tax on stocks – minister Wed Jun 29, 2016 1:06 pm

Gainer

29 Re: Sri Lanka to impose capital gains tax on stocks – minister Wed Jun 29, 2016 4:36 pm

ccsentha

30 Re: Sri Lanka to impose capital gains tax on stocks – minister Wed Jun 29, 2016 4:37 pm

ccsentha

31 Re: Sri Lanka to impose capital gains tax on stocks – minister Wed Jun 29, 2016 4:50 pm

hotstock

32 Re: Sri Lanka to impose capital gains tax on stocks – minister Wed Jun 29, 2016 5:16 pm

ccsentha

33 Re: Sri Lanka to impose capital gains tax on stocks – minister Wed Jun 29, 2016 6:22 pm

Teller

34 Re: Sri Lanka to impose capital gains tax on stocks – minister Wed Jun 29, 2016 6:30 pm

cseguide

35 Re: Sri Lanka to impose capital gains tax on stocks – minister Wed Jun 29, 2016 6:37 pm

Miss-Sangeetha

36 Re: Sri Lanka to impose capital gains tax on stocks – minister Wed Jun 29, 2016 6:45 pm

TARGET

37 Re: Sri Lanka to impose capital gains tax on stocks – minister Wed Jun 29, 2016 6:47 pm

Suranga malli

38 Re: Sri Lanka to impose capital gains tax on stocks – minister Wed Jun 29, 2016 8:01 pm

samaritan

39 Re: Sri Lanka to impose capital gains tax on stocks – minister

Sponsored content

New topics