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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » CGT ON CSE - CART BEFORE THE HORSE

CGT ON CSE - CART BEFORE THE HORSE

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1CGT ON CSE - CART BEFORE THE HORSE Empty CGT ON CSE - CART BEFORE THE HORSE Wed Jun 29, 2016 6:26 pm

samaritan


Moderator
Moderator

 THE MAIN ISSUE WITH THE CGT ON CSE IS WHETHER IS THIS THE APPROPRIATE TIME FOR SUCH IMPOSITION OR NOT. IT IS A WELL KNOWN FACT THAT THE CSE HAS BEEN AILING FOR THE PAST ONE AND HALF YEARS WITHOUT ANY CLEAR DIRECTION.


THE EXPECTED LIBERALIZATION OF CONTROLS ON INTERNATIONAL CAPITAL FLOWS BEFORE NEXT BUDGET CAN SERVE AS A CATALYST TO INCREASE MARKET LIQUIDITY SUBJECT TO REASONABLE STABILITY IN THE GLOBAL  ENVIRONMENT. THEREAFTER, LOOK FOR AN APPROPRIATE TIME TO INTRODUCE CGT WHEN THE MARKET IS HEALTHY AND PERFORMING WELL. MAKE MILLIONAIRES AND THEN TAX THEM. 


THE IMPOSITION OF CGT AT PRESENT TO AN AILING MARKET IS LIKE SUCKING BLOOD OUT OF AN ANEMIC PATIENT AND WILL ADVERSELY AFFECT INVESTOR SENTIMENT AND SPELL DISASTER TO CSE. 

"DO NOT PUT THE CART BEFORE THE HORSE" 

2CGT ON CSE - CART BEFORE THE HORSE Empty Re: CGT ON CSE - CART BEFORE THE HORSE Wed Jun 29, 2016 6:37 pm

cseguide

cseguide
Vice President - Equity Analytics
Vice President - Equity Analytics

yes this is not the time for cgt

3CGT ON CSE - CART BEFORE THE HORSE Empty Re: CGT ON CSE - CART BEFORE THE HORSE Wed Jul 13, 2016 9:35 am

samaritan


Moderator
Moderator

CGT ON SHARES: CAN THE GOVT ACHIEVE ITS OBJECTIVES?
A Senior Government Minister has indicated that the GoSL is considering imposing a Capital Gains Tax (CGT) on capital gains from equities realised through share transactions of listed shares in the Colombo Stock Exchange (CSE). 

The investment community seems to be worried about the imposition of the Capital Gains Tax on share transactions. Representatives from the stockbroker community have already raised their concerns that such taxes would be counterproductive. 

The investment community is of the view that CGT would negatively affect an already ailing stock market. Furthermore, they suggest that the CGT would make it difficult to attract foreign investors into the stock market. The stockbroker community believes that the CGT on the stock market will also include capital losses, where people will start to claim these losses, wiping out the stock market risk factor. 

http://www.ft.lk/article/554359/Capital-Gains-Tax-on-shares:-Can-the-Government-achieve-its-objectives

4CGT ON CSE - CART BEFORE THE HORSE Empty Re: CGT ON CSE - CART BEFORE THE HORSE Wed Jul 13, 2016 10:53 am

samcader


Manager - Equity Analytics
Manager - Equity Analytics

Introducing  CGT on  capital  gains  at  the  CSE  and  the  reimbursement  of  losses  would  be  a  laborious  exercise.  I  hope  that  the  Government  would  have  learnt  a  bitter  lesson  on  the  VAT issue.

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