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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Cabinet announces massive tax cuts

Cabinet announces massive tax cuts

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21Cabinet announces massive tax cuts - Page 2 Empty Re: Cabinet announces massive tax cuts Thu Nov 28, 2019 10:15 am

bhanu


Manager - Equity Analytics
Manager - Equity Analytics
@bhanu wrote:Chicken will run... Also tax cut will have positive effect on dialog and slt
Dialog a huge jump. Unfortunately only retailers are buying..

22Cabinet announces massive tax cuts - Page 2 Empty Re: Cabinet announces massive tax cuts Thu Nov 28, 2019 1:13 pm

Teller


Moderator
Moderator
Dont think much magic on this market hike, i can remember few months earlier Indian government, Prime minister Moodhy ahnounces huge tax cut , suddenly their Stock market indices up with life time high, after two to three weeks market down worsly . The same scenario will apply to us also. Only intelligent investor will utilize this bubble to earn money. Poor retailers again will be in the trap. Those who have knowledge with less greedy will win the situation . Remember this cut expands the budget deficit above 5% and loss the revenue more than 1000 billion . Im agree if they implement with a proper revenue genarating sources against this loss. I believe scenarios should be practical rather than emotional. As investors its upto you to decide buy ,sell or hold, but this my opinion. Experienced and intelligent investors will understand what i say here. Good luck

23Cabinet announces massive tax cuts - Page 2 Empty Re: Cabinet announces massive tax cuts Thu Nov 28, 2019 2:02 pm

Sajeewa Niranjan


Senior Equity Analytic
Senior Equity Analytic
@Teller- what to buy in this situation  Crying or Very sad

24Cabinet announces massive tax cuts - Page 2 Empty Re: Cabinet announces massive tax cuts Thu Nov 28, 2019 5:45 pm

zenobia1


Stock Trader
removal of the withholding tax from bank interest will be disastrous; here is why:
that tax at 5% was the final tax. if it is not withheld at the source, the bank interest will be added to your income to be taxed at max of 18%. it is a far worse situation than the current payment of 5% witholding tax as the final tax, correct me if i am wrong

25Cabinet announces massive tax cuts - Page 2 Empty Re: Cabinet announces massive tax cuts Thu Nov 28, 2019 8:47 pm

samaritan


Moderator
Moderator
@zenobia1 wrote:removal of the withholding tax from bank interest will be disastrous; here is why:
that tax at 5% was the final tax. if it is not withheld at the source, the bank interest will be added to your income to be taxed at max of 18%. it is a far worse situation than the current payment of 5% witholding tax as the final tax, correct me if i am wrong
In that case it is stated that Capital Gains Tax on share investments is also removed. Does it mean that the Capital Gains will be added to your taxable income?
However, clarifications are necessary in relation to WHT on bank interest. Gazette notification will only reveal full details.

26Cabinet announces massive tax cuts - Page 2 Empty Re: Cabinet announces massive tax cuts Thu Nov 28, 2019 10:13 pm

Teller

Teller
Moderator
Moderator
I was not charge any capital gain taxes against share trading? So if it was not imposed, whats the hell , they are telling about removal?


_________________




Teller said is said..

27Cabinet announces massive tax cuts - Page 2 Empty Re: Cabinet announces massive tax cuts Thu Nov 28, 2019 10:37 pm

fireshelter

fireshelter
Associate Director - Equity Analytics
Associate Director - Equity Analytics
CG Was Not  there for shares

28Cabinet announces massive tax cuts - Page 2 Empty Re: Cabinet announces massive tax cuts Thu Nov 28, 2019 11:19 pm

stockback


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@bhanu wrote:
@bhanu wrote:Chicken will run... Also tax cut will have positive effect on dialog and slt
Dialog a huge jump. Unfortunately only retailers are buying..



can you give time line please..


I dont see any big issue..


I mean BSE index and tax cut. Tax cut hapen 23 september.

can you give more details..

29Cabinet announces massive tax cuts - Page 2 Empty Re: Cabinet announces massive tax cuts Fri Nov 29, 2019 10:22 am

samaritan


Moderator
Moderator
@Teller wrote:I was not charge any capital gain taxes against share trading? So if it was not imposed, whats the hell , they are telling about removal?
Can you remember under the earlier regime they kept investors guessing whether CGT will be implemented or not and at the same time splurged on public money.
The present govt wants to make it clear in no nonsense terms that there will not be any CGT, but the wording of removal is wrong.


_________________




The biggest risk in life is not taking any risk at all.

30Cabinet announces massive tax cuts - Page 2 Empty Re: Cabinet announces massive tax cuts Fri Nov 29, 2019 11:50 pm

Captain


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
As prt IRD NOTICE issued today exeptions and rate reduction has been back dated yo whole Y/A 2019/20,

31Cabinet announces massive tax cuts - Page 2 Empty Re: Cabinet announces massive tax cuts Sat Nov 30, 2019 8:20 am

hammurabi

hammurabi
Manager - Equity Analytics
Manager - Equity Analytics
Cabinet announces massive tax cuts - Page 2 3d95bc10

32Cabinet announces massive tax cuts - Page 2 Empty Re: Cabinet announces massive tax cuts Sat Nov 30, 2019 8:21 am

hammurabi

hammurabi
Manager - Equity Analytics
Manager - Equity Analytics
Cabinet announces massive tax cuts - Page 2 11dbbf10

33Cabinet announces massive tax cuts - Page 2 Empty Re: Cabinet announces massive tax cuts Sat Nov 30, 2019 10:53 am

Teller

Teller
Moderator
Moderator
As a developing economy , we should not encourage deposits. Current decision encourage and promote deposits. This will be a huge negative impact and increasing the budget deficit. Dont expect foreign workers much inflow due to this changes.

34Cabinet announces massive tax cuts - Page 2 Empty Re: Cabinet announces massive tax cuts Sat Nov 30, 2019 11:07 am

samaritan


Moderator
Moderator
Any news relating to WHT applicable to senior citizens? Are they fully exempted?


_________________




The biggest risk in life is not taking any risk at all.

35Cabinet announces massive tax cuts - Page 2 Empty Re: Cabinet announces massive tax cuts Sat Nov 30, 2019 8:10 pm

ColomboCSE


Manager - Equity Analytics
Manager - Equity Analytics
@Teller wrote:Dont think much magic on this market  hike, i can remember few months earlier Indian government, Prime minister Moodhy ahnounces huge tax cut , suddenly their Stock market indices up with life time high, after two to three weeks market down worsly . The same scenario will apply to us also. Only intelligent investor will utilize this bubble to earn money. Poor retailers again will be in the trap. Those who have knowledge with  less greedy will win the situation . Remember this cut expands the budget deficit above 5% and loss the revenue more than 1000 billion . Im agree if they implement with a proper revenue genarating sources against this loss. I believe scenarios should be practical rather than emotional. As investors its upto you to decide buy ,sell or hold, but this my opinion. Experienced and intelligent  investors will understand what i say here. Good luck


It's an absolutely correct I love you I love you I love you   best explanation, hats off!!!

36Cabinet announces massive tax cuts - Page 2 Empty Re: Cabinet announces massive tax cuts Sat Nov 30, 2019 9:10 pm

samaritan


Moderator
Moderator
CB sees recent tax reforms leading to lower inflation, higher growth
(The Island of today)
unquote:
Unlike India Sri Lanka's growth phase is yet at the primary stages with positive growth prospects in the future with Port City having the potential of becoming a hi tech city in the region supported by the policies of the govt that would encourage massive foreign investments. Hence the higher growth in the short term can be sustained in the future depending on the govt's policies to attract investments. The tourism sector which suffered after the Easter attack is expected to be revived as well.
Market momentum is expected to continue!


_________________




The biggest risk in life is not taking any risk at all.

37Cabinet announces massive tax cuts - Page 2 Empty Re: Cabinet announces massive tax cuts Sat Nov 30, 2019 10:46 pm

NANDANA2012


Manager - Equity Analytics
Manager - Equity Analytics
@Teller wrote:As a developing economy  , we should not encourage deposits. Current decision encourage and promote deposits. This will be a huge negative impact and increasing the budget deficit. Dont expect foreign workers much inflow due to this changes.
Not clear how tax cuts encourage deposits when economy is growing at 2+. interest rate low and people dont have much money to save. ?

38Cabinet announces massive tax cuts - Page 2 Empty Re: Cabinet announces massive tax cuts Sat Nov 30, 2019 10:56 pm

NANDANA2012


Manager - Equity Analytics
Manager - Equity Analytics
@Teller wrote:Dont think much magic on this market  hike, i can remember few months earlier Indian government, Prime minister Moodhy ahnounces huge tax cut , suddenly their Stock market indices up with life time high, after two to three weeks market down worsly . The same scenario will apply to us also. Only intelligent investor will utilize this bubble to earn money. Poor retailers again will be in the trap. Those who have knowledge with  less greedy will win the situation . Remember this cut expands the budget deficit above 5% and loss the revenue more than 1000 billion . Im agree if they implement with a proper revenue genarating sources against this loss. I believe scenarios should be practical rather than emotional. As investors its upto you to decide buy ,sell or hold, but this my opinion. Experienced and intelligent  investors will understand what i say here. Good luck
With due respect to your many correct predictions, i disagree that our market can crash and in a bubble. CSE not in a bubble but just getting back from a 5+ years of downturn, sluggish market and just getting correctly valued yet (Probably We can say overvalued When ASI is 7500+), But the real issue with CSE is that Foreign Investors just keep waiting till new Govt policies are clear, Its a just a matter of time, they come or they loose the opportunity. But till then our retailers may not have enough buying power to bring the market to overvalued level..Also what we have a different scenario, where we have a Govt with almost 2/3 majority and no sign of political instability (Though some democratic issues cud arise) and with a person who walk the talk, can cut Govt expenditure, can deliver results quickly, never promised cheap and economy destroying election promises unlike earlier.. So there are so many positives for the market than very few negatives...Tax Cuts will jump start economy and will generate more revenue than lost after some time..

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