Cabinet announces massive tax cuts

Teller · 26 Re: Cabinet announces massive tax cuts Thu Nov 28, 2019 10:13 pm

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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?

fireshelter · 27 Re: Cabinet announces massive tax cuts Thu Nov 28, 2019 10:37 pm

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CG Was Not there for shares

stockback · 28 Re: Cabinet announces massive tax cuts Thu Nov 28, 2019 11:19 pm

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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..

samaritan · 29 Re: Cabinet announces massive tax cuts Fri Nov 29, 2019 10:22 am

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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.

Captain · 30 Re: Cabinet announces massive tax cuts Fri Nov 29, 2019 11:50 pm

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

hammurabi · 31 Re: Cabinet announces massive tax cuts Sat Nov 30, 2019 8:20 am

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Cabinet announces massive tax cuts - Page 2 3d95bc10

hammurabi · 32 Re: Cabinet announces massive tax cuts Sat Nov 30, 2019 8:21 am

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Cabinet announces massive tax cuts - Page 2 11dbbf10

Teller · 33 Re: Cabinet announces massive tax cuts Sat Nov 30, 2019 10:53 am

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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.

samaritan · 34 Re: Cabinet announces massive tax cuts Sat Nov 30, 2019 11:07 am

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

ColomboCSE · 35 Re: Cabinet announces massive tax cuts Sat Nov 30, 2019 8:10 pm

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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 best explanation, hats off!!!

samaritan · 36 Re: Cabinet announces massive tax cuts Sat Nov 30, 2019 9:10 pm

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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!

NANDANA2012 · 37 Re: Cabinet announces massive tax cuts Sat Nov 30, 2019 10:46 pm

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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. ?

NANDANA2012 · 38 Re: Cabinet announces massive tax cuts Sat Nov 30, 2019 10:56 pm

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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..