FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.
FINANCIAL CHRONICLE™

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka

Click Link to get instant AI answers to all business queries.
Click Link to find latest Economic Outlook of Sri Lanka
Click Link to view latest Research and Analysis of the key Sectors and Industries of Sri Lanka
Worried about Paying Taxes? Click Link to find answers to all your Tax related matters
Do you have a legal issues? Find instant answers to all Sri Lanka Legal queries. Click Link
Latest images

Latest topics

» Latest Financial Status and Future Outlook of SMB Finance PLC
by ChatGPT Yesterday at 11:15 pm

» Latest Financial Status and Future Outlook of Overseas Realty PLC
by ChatGPT Yesterday at 11:00 pm

» Latest Financial Status and Future Outlook of Merchant Bank of Sri Lanka & Finance PLC
by ChatGPT Yesterday at 10:55 pm

» McDonald’s අපේ නෙමෙයි අපේ බෝස්ගේ – අබාන්ස් කියයි
by ChooBoy Yesterday at 10:19 am

» AI Assistance for Stock Market Research and Analysis
by ChatGPT Yesterday at 7:12 am

» Comparative Analysis of the Insurance Sector
by God Father Tue Mar 26, 2024 11:46 pm

» Sri Lanka: Why Pay Exorbitant Taxes?
by ChatGPT Tue Mar 26, 2024 10:52 pm

» LANKA CREDIT AND BUSINESS FINANCE PLC (LCBF.N0000)
by K.R Tue Mar 26, 2024 3:15 pm

» CENTRAL INDUSTRIES PLC (CIND.N0000)
by D.G.Dayaratne Tue Mar 26, 2024 9:11 am

» SIYAPATHA FINANACE PLC (SLFL.N0000)
by ChatGPT Tue Mar 26, 2024 7:58 am

» FINANCE AND LEASING SECTOR
by ChatGPT Mon Mar 25, 2024 6:45 am

» LOLC FINANCE PLC (LOFC.N0000)
by ChatGPT Mon Mar 25, 2024 6:36 am

» CIC HOLDINGS PLC (CIC.N0000)
by ChatGPT Mon Mar 25, 2024 6:18 am

» UNION ASSURANCE PLC (UAL.N0000)
by ChatGPT Mon Mar 25, 2024 6:15 am

» First Capital Holdings PLC: Current Financial performance and future outlook
by God Father Sun Mar 24, 2024 10:58 pm

» LankaBizz: Sri Lanka's First ever Artificially Intelligent (AI) Business and Research Assistant
by God Father Sun Mar 24, 2024 7:27 am

» HOTEL AND TRAVEL SECTOR
by ErangaDS Wed Mar 20, 2024 7:22 am

» CIC Holdings Good Times Ahead
by ashan silva Mon Mar 18, 2024 11:00 am

» EPF Fund keep eye on low P/E Shares
by K.R Mon Mar 18, 2024 8:45 am

» SINS - the Tailwind effects of a crisis hit Economy
by Hawk Eye Mon Mar 18, 2024 8:37 am

» Ceylon cold stores
by Hawk Eye Mon Mar 18, 2024 8:25 am

» Asha securities Provide buy signal for CIC
by ddrperera Fri Mar 15, 2024 1:10 am

» CSE ready for another Downtrend?
by D.G.Dayaratne Thu Mar 14, 2024 11:24 am

» LankaLAW Forum : Sri Lanka’s #1 Discussion Platform for Legal Questions and Answers
by blindhog Thu Mar 14, 2024 9:14 am

» Sri Lanka poised to benefit from demand surge for ‘non-China origin’ graphite
by samaritan Wed Mar 13, 2024 1:31 pm

LISTED COMPANIES

Submit Post
ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post


CONATCT US


Send your suggestions and comments

* - required fields

Read FINANCIAL CHRONICLE™ Disclaimer



EXPERT CHRONICLE™

ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)



CHRONICLE™ YouTube

Disclaimer
FINANCIAL CHRONICLE™ Disclaimer

The information contained in this FINANCIAL CHRONICLE™ have been submitted by third parties directly without any verification by us. The information available in this forum is not researched or purported to be complete description of the subject matter referred to herein. We do not under any circumstances whatsoever guarantee the accuracy and completeness information contained herein. FINANCIAL CHRONICLE™ its blogs, forums, domains, subdomains and/or its affiliates and/or its web masters, administrators or moderators shall not in any way be responsible or liable for loss or damage which any person or party may sustain or incur by relying on the contents of this report and acting directly or indirectly in any manner whatsoever. Trading or investing in stocks & commodities is a high risk activity. Any action you choose to take in the markets is totally your own responsibility, FINANCIAL CHRONICLE™ blogs, forums, domains, subdomains and/or its affiliates and/or its web masters, administrators or moderators shall not be liable for any, direct or indirect, consequential or incidental damages or loss arising out of the use of this information. The information on this website is neither an offer to sell nor solicitation to buy any of the securities mentioned herein. The writers may or may not be trading in the securities mentioned.

Further the writers and users shall not induce or attempt to induce another person to trade in securities using this platform (a) by making or publishing any statement or by making any forecast that he knows to be misleading, false or deceptive; (b) by any dishonest concealment of material facts; (c) by the reckless making or publishing, dishonestly or otherwise of any statement or forecast that is misleading, false or deceptive; or (d) by recording or storing in, or by means of, any mechanical, electronic or other device, information that he knows to be false or misleading in a material particular. Any action writers and users take in respect of (a),(b),(c) and (d) above shall be their own responsibility, FINANCIAL CHRONICLE™ its blogs, forums, domains, subdomains and/or its affiliates and/or its web masters, administrators or moderators shall not be liable for any, direct or indirect, consequential or incidental violation of securities laws of any country, damages or loss arising out of the use of this information.


AI Live Chat

You are not connected. Please login or register

Capital Gain Tax

+6
stockback
kumarweerarathne
samaritan
econ
worthiness
RoughRider
10 posters

Go down  Message [Page 1 of 1]

1Capital Gain Tax Empty Capital Gain Tax Tue Nov 15, 2016 12:33 pm

RoughRider

RoughRider
Equity Analytic
Equity Analytic

Dear All,

I'm a little confused on the application of CGT. 

The following are what I understood about it & kindly correct me/add more details if below points are wrong/incomplete.

(I) CGT is not applicable on share-based transactions (CSE will not be affected)

(II) 10% of CGT is applicable on property-based transactions (acquired within last 10 years) & only the seller has to pay 10% CGT based on the capital gain made on such transactions.

This will come into effect on property-based transactions after 01st April 2017 & sellers would not have to pay the tax for transactions before that.

CHEERS!!!

2Capital Gain Tax Empty Re: Capital Gain Tax Tue Nov 15, 2016 1:33 pm

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Capital gain tax 10% is applicable only for immovable property. Not sure whether they apply the CGT policy for past transactions.
Determining the market value of the property is the main criteria in computing the capital gain.

3Capital Gain Tax Empty Re: Capital Gain Tax Tue Nov 15, 2016 2:18 pm

RoughRider

RoughRider
Equity Analytic
Equity Analytic

Thanks a lot worthiness for ur feedback.


As per whar I heard, the tax will be imposed from next year onwards (01st April 2017)


Transactions done before that would not be taxed!!!

4Capital Gain Tax Empty Re: Capital Gain Tax Mon Nov 21, 2016 2:39 pm

econ

econ
Global Moderator

They will surely apply for share transaction in near future. Government need money somehow so try to tax from what they could.

5Capital Gain Tax Empty Re: Capital Gain Tax Mon Nov 21, 2016 3:18 pm

samaritan


Moderator
Moderator

econ wrote:They will surely apply for share transaction in near future. Government need money somehow so try to tax from what they could.
You are right. The Govt needs money to increase salaries and perks to MPs who have sacrificed their pleasures in order to serve the masses. They must be compensated for the selfless service they are rendering to the people. Some people don't seem to understand this.

6Capital Gain Tax Empty Re: Capital Gain Tax Mon Nov 21, 2016 3:42 pm

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Where necessary, rulers may apply the CGT on immovable property transactions done in the past. It is similar to super gain tax charged for the past period.
Non ending hostility arises from civil organizations if rulers uphold the decision to increase the perks to discreditable parliamentarians.

7Capital Gain Tax Empty Re: Capital Gain Tax Mon Nov 21, 2016 5:15 pm

kumarweerarathne

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

According to the reliable sources the CGT is imposed on share transactions in near future. Sad

8Capital Gain Tax Empty Re: Capital Gain Tax Mon Nov 21, 2016 5:22 pm

stockback


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

kumarweerarathne wrote:According to the reliable sources the  CGT is imposed on share transactions in near future. Sad


Finance minister said. no CGT for Stock market......

Government collect plenty of tax. then they no need to worry about CGT stock market.

9Capital Gain Tax Empty Re: Capital Gain Tax Mon Nov 21, 2016 5:33 pm

samaritan


Moderator
Moderator

kumarweerarathne wrote:According to the reliable sources the  CGT is imposed on share transactions in near future. :(
Imposition of CGT to an already ailing market will only kill it. They may have to tax losses and not profits. So, in my opinion when the indices drops steadily they will make a very clear announcement without any ambiguity that CGT will not apply to share transactions. This is the reason to say "near future" without giving a specified date.

10Capital Gain Tax Empty Re: Capital Gain Tax Mon Nov 21, 2016 5:39 pm

samaritan


Moderator
Moderator

stockback wrote:
kumarweerarathne wrote:According to the reliable sources the  CGT is imposed on share transactions in near future. :(


Finance minister said. no CGT for Stock market......

Government collect plenty of tax. then they no need to worry about CGT stock market.
You are right, he said this prior to the budget.

11Capital Gain Tax Empty Re: Capital Gain Tax Mon Nov 21, 2016 6:45 pm

D.G.Dayaratne


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

CGT tax also another "GONI BILLA" created by anti govt propaganda


CGT is tax on profit

If we can earn profits why can't we pay small % as tax

Govt also will have to make some effort to increase share traders profits

otherwise no Tax (INcome) to the govt

12Capital Gain Tax Empty Re: Capital Gain Tax Mon Nov 21, 2016 7:48 pm

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Overnight changes are still possible. 

So investors are perplexed by many conflicting situations filled with bewilderment. Poor clarification of events at the initial stage had caused the damage.

13Capital Gain Tax Empty Re: Capital Gain Tax Mon Nov 21, 2016 9:20 pm

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics

stockback wrote:
kumarweerarathne wrote:According to the reliable sources the  CGT is imposed on share transactions in near future. Sad


Finance minister said. no CGT for Stock market......


මිනිහ කිව්වද  ? එහෙනම් ඉතින් ආයෙ බය වෙන්න දෙයක් නෑ. මිනිහ කිව්වොත් ඉතින් ආයෙ වචන දෙකක් නෑ. ගලේ කොටපු අකුර වගේ තමයි.
ඒ දවස් වල ඇතුලත්මුදලි මහත්තයත් අපිත් එක්ක කියනව,
"කොහොමද මගෙ සිලෙක්‍ෂන් එක.​"  "වෙරි රිලයබල් චැප්" කියල​.



(BTW, my comment is just for fun , not a reply directed to stockback. Smile )

14Capital Gain Tax Empty Re: Capital Gain Tax Mon Nov 21, 2016 9:43 pm

dennam jambu


Senior Equity Analytic
Senior Equity Analytic

පඩියට බදු, බැංකුවේ සල්ලි ගත්තත්  බදු ,දම්මත් බදු, පොලියටත් බදු , එ නිසා කොටස් වෙලදපොලේ දැම්මත් බදු ,ලාබංසටත් බදු, අප්සෙට් එකට බොන්නටත්  බෑ එකටත් බදු, . ගොඩ එන්නනම් බෑ පුතෝ.   අර මන්ත්රිලට වාහන අරන් දීලා ආණ්ඩුවෙන්ම  ලීස්  එක ගෙවල ඉවර උනාට පස්සේ  වාහන 57ක් මේ මටම අය්තිවෙන වගේ බිස්නස්  එකක් රවිගෙන් ඉල්ලගත්තොත්නම්  ගොඩේ ගොඩ.

15Capital Gain Tax Empty Re: Capital Gain Tax Tue Nov 22, 2016 4:33 am

DANIDU


Manager - Equity Analytics
Manager - Equity Analytics

stockback wrote:
kumarweerarathne wrote:According to the reliable sources the  CGT is imposed on share transactions in near future. Sad


Finance minister said. no CGT for Stock market......

Government collect plenty of tax. then they no need to worry about CGT stock market.
Yes, only remaining to tax on shares market, let them to do it, at-least they will be happy and we will get clear direction. 

Yet non of them tell us directly that there is no tax on share market, Why these buggers playing like this?

16Capital Gain Tax Empty Re: Capital Gain Tax Tue Nov 22, 2016 6:31 am

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics

dennam jambu wrote:පඩියට බදු, බැංකුවේ සල්ලි ගත්තත්  බදු ,දම්මත් බදු, පොලියටත් බදු , එ නිසා කොටස් වෙලදපොලේ දැම්මත් බදු ,ලාබංසටත් බදු, අප්සෙට් එකට බොන්නටත්  බෑ එකටත් බදු, . ගොඩ එන්නනම් බෑ පුතෝ.   අර මන්ත්රිලට වාහන අරන් දීලා ආණ්ඩුවෙන්ම  ලීස්  එක ගෙවල ඉවර උනාට පස්සේ  වාහන 57ක් මේ මටම අය්තිවෙන වගේ බිස්නස්  එකක් රවිගෙන් ඉල්ලගත්තොත්නම්  ගොඩේ ගොඩ.


ඉතුරු වෙලා තියෙන්නෙ තව ටිකයි. ඒව ලබන අය වැයෙන් .

කවුරුත් දන්නෙ නැති උනාට තව බොහෝ ඒවට වැට් වැදිල​.
 ඊයෙ ඉඳල මල් පැල විකුණන අයටත් බදු !
දියත උයනේ මල් පැල විකුණන අයට මාසෙට 2000 ක් වැට් ගහන්න පටන් අරන් මේ සතියෙ ඉඳල​.
ජනවාරි ඉඳල බිම් කුලිය මාසෙට 20,000 කරල වැට් එකත් 2500 කරනව කියල ඒ මිනිස්සු දෙස් විලාප තියනව​.

ඒ ස්වයං රැකියාවත් ඉවරයි වගේ.

මේකෙන් බඩට වදින්නෙ එතන පැල විකුණන සිය ගානක් දෙනාට පමණක් නොවේ. ඒ මල් පැල වවන දහස් ගාණක් පවුල් ඉන්නව හිඟුරක්ගොඩ​, බලන් ගොඩ ආදී ප්‍රදේශ වල​.
පෝට් සිටිය නැවත්තුවම හිතපු නැති අය දහස් ගානක් පාරට වැටුන වගේ තමයි හැම දෙයකම චේන් රිඇක්‍ෂන් තියෙනව හිටං.
(හිටං හා හුටං ට මෙව්ව තේරෙනවද දන්නෙ නෑ හිටං.)
රජය බැලුවෙ මල් කඩ හා ආහාර කඩ හරහා ඔතෙනට එන ජනතාවගෙන් මාසෙට ලක්‍ෂ 50 පන්නල හෙවත් වසර තුල කෝටි 6 කට එහා එකතු කරගන්න තියෙන චාන්ස් එක ගැන විතරයි.  

(හැබැයි ලස්සන වැඩේ තමයි, ඔය දියත උයන සුපිරි ලෙවල් එකට හදල පහසුකම් සලස්වල  බැංකොක් වල වත් නැති විදියට මල් ව්‍යාපරයට ස්ථානයක් හැදුවේ ගෝඨාභය මහත්තය​.
මේ රජය ආපු දවස් වල ඕකෙ මල් විකුණන කට්ටිය බොහෝ දෙනක් ඒ  මනුස්සයට බැන බැන හිටිය  මේව හදල තියෙන්නෙ හොරකම් කරන්න කියල​.
 දැන් ඉතින් කටවල් බෙරි කරගෙන මූණු එල්ලගෙන ඉන්නව​. )

Sponsored content



Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum