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FINANCIAL CHRONICLE™ » EXPERT CHRONICLE™ » BUDGET 2021

BUDGET 2021

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20201115

BUDGET 2021  - Page 2 Empty BUDGET 2021

Harry82


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
BUDGET 2021  - Page 2 Pm-mah10

Several existing tax holidays, partial tax holidays, and other concessions are to be removed while introducing a simplified three tier corporate tax structure, taxation of capital gains while expanding the coverage of withholding taxes. Corporate tax rate will be revised and the Finance Ministry is likely to re-introduce the wealth tax, official sources said.
The government had set a target in its medium-term economic plan to increase income tax contribution to total tax revenue to at least 40 per cent from 20 per cent in the budget revenue proposals.

The excise tax on cigarettes and hard liquor manufactured locally will be further increased (excise duty on special arrack remains without change) and excise duties imposed on malt liquor will also be revised. Furthermore the government is to hike taxes on fuel imports, luxury items and cosmetic imports.

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Post Sun Nov 15, 2020 12:55 pm by Promoney

@Kipling wrote:PM 
Thank you..what about the other disaster wealth tax.?

Note, the above is just my personal opinion, which may or may not happen.

Not sure about wealth tax

Post Sun Nov 15, 2020 3:28 pm by Vishwanarth

I don't think he is such idiot man to disturb stock market by imposing taxes. It needs free and fair trade. Generally it needs to make live and inspire the existing investors and to invite new investors.
Thats why no government yet make income from listed shares source of income for the tax. No one needs to declare income from stock trading. There is no declaration in income tax return for the stock trading. Because tax is deducted at every buy and sell and it is become a Final Tax.






Last edited by Vishwanarth on Sun Nov 15, 2020 3:46 pm; edited 1 time in total

Promoney and KingMaker2020 like this post

Post Sun Nov 15, 2020 3:38 pm by samaritan

@Kipling wrote:Samaritan 
There is talk of wealth tax & capital gains tax. ANC in a recent interview with The Hindu said you cannot make poor rich by making rich poor. So hint was no to such taxes. It will be a disaster if these 2 taxes implemented. Please tell me that your sources say it a FIRM NO.
There will not be any taxes that will affect the stock market for sure.

Promoney and Win Win like this post

Post Sun Nov 15, 2020 3:43 pm by Vishwanarth

Government may intend to support more ICT and Telecommunications industry. Especially Government introduced NEW NORMAL culture. There ONLINE activities such as,
WORK FROM HOME
STUDYING ONLINE
ONLINE ASSEMBLY
ONLINE MEETING
are going to be favoured more. It reduces government burden to maximum extent. ONLINE platform gives government,/private institutions to function. It facilities on line school education, university education, university education and many more. So Telecommunications has bigger role to support COVID19 new normal practices by giving Broadband facilities. If it fails it hurts the government. In this crucial situation not the Tax from them very important but the incentive for them to allow their low cost service to all citizens. Because PHYSICAL gathering is the biggest problem. Only telecommunications providers can give them solutions by supporting VERTUAL spaces to conduct same events essentially needs to run the country.

Vishwanarth likes this post

fireshelter

Post Sun Nov 15, 2020 7:07 pm by fireshelter

State Minister of Money and Capital Market and State Enterprise Reforms, Ajith Nivard Cabraal said there are several new ventures that will be promoted through Budget 2021 to ensure that the people will make investments and that it will be an investment-driven Budget.
The Government has about 289 ongoing projects, each more than billions of rupees. We will ensure that those projects are completed fast and the growth momentum maintained. These avenues are open to the Government and the country, which we will promote, the State Minister told the Sunday Observer yesterday.
We also wish to ensure that the macro fundamentals remain stable. That is, the rupee to be stable and interest rates to be stable at lower rates. We must ensure that the reserves are built and unemployment is kept in check, which will help take the country forward in the next five years, he said. State Minister Cabraal said several priorities will be identified in the Budget. One is the water-based projects to ensure that the people will enjoy pipe borne water in the future.
At present, nearly 42 to 43 percent of the people have pipe borne water and we wish to increase that to 95 percent. During the tenure of President Mahinda Rajapaksa, only 70 percent of the population had electricity, but the Government increased the coverage to 99 percent. We will also be looking at 100,000 kilometres of road projects which be supported by the Government.
He said Foreign Direct Investments (FDIs) should flow into the country, for which we are arranging new pockets of sources.

One is the Port City. The second, Port-related activities, and the third, the farmer industry where we have already allocated 400 acres of land. We are also promoting the improvement of educational and health facilities.
Cabraal said that the Government will also address the human-elephant conflict to ensure that people in 14 districts who are suffering will be given support. Several economic activities have beenstalled due to the human-elephant conflict and we need to address it.
When asked whether the current global economic stagnation will have its constraints on the Budget implementation, he said there will always be challenges, but the implementation of the Budget is a commitment we need to ensure. “I think we are working well in management techniquesand have been in the forefront in many challenging tasks in the past. I am confident that with the expertise and the commitment of the President, the Prime Minister, Cabinet of Ministers and other Government officials, we could achieve what has been set out in Budget 2021,” he said.

Harry82

Post Sun Nov 15, 2020 7:54 pm by Harry82

top gainer's of the week ? after the budget

avatar

Post Sun Nov 15, 2020 8:24 pm by Win Win

TKYO / CIND / AEL
LVEF / LPL / VLL / HPFL / PAP
DIPD / HAYC / REXP / BPPL / RICH / RAL / MGT / RAL
TAP / ECL

RJ1010 and judecroos like this post

avatar

Post Sun Nov 15, 2020 8:31 pm by samaritan

SRI LANKA TO RECEIVE SAME BENEFITS OF EU GSP+ FOR UK FROM 2021


https://www.srilankabusiness.com/news/sri-lanka-to-receive-same-benefits-of-eu-gsp-for-uk-from-2021.html

Harry82

Post Sun Nov 15, 2020 8:47 pm by Harry82

thanks win win,

what about ACL, KCAB, APLA,CIC,RCL,TILE,LWL?

avatar

Post Sun Nov 15, 2020 9:02 pm by Win Win

@Harry82 wrote:thanks win win,

what about ACL, KCAB, APLA,CIC,RCL,TILE,LWL?


RCL can enjoy export related incentives as well as measures to create construction boom again.. If they can deliver more & more to export markets, it is the biggest advantage than budget reliefs, bcz their investments added sufficient capacities in 2019/20..


CIC has many business areas. Sometimes, they will receive seeds related benefits..

I think KCAB is going to give more focus for exports. They should have export related incentives..

judecroos likes this post

Harry82

Post Sun Nov 15, 2020 9:19 pm by Harry82

thanks win win
any idea on VONE

avatar

Post Sun Nov 15, 2020 9:25 pm by wealth123

RAL, VPEL, GLAS, PAP, VLL, COCO, Plantation, Manufacturing share will get good benefits.
RAL, GLAS, VPEL are the stocks to watch.

judecroos likes this post

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Post Sun Nov 15, 2020 10:05 pm by subash81

Government No 1 priority is increase export earning. Therefore following company get huge benefit from budget 

EXPO
HAYC
DIPD
REXP

cseguide, judecroos and Vishwanarth like this post

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Post Tue Nov 17, 2020 2:19 pm by dinsan123

what are the benefit from budget to stock market ?

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Post Tue Nov 17, 2020 2:43 pm by DamithAsian

Agriculture, fishery..livestock Exempted 5 years

Agstar, RAL,LDEV and plantation sector to be hit 18th Wednesday

avatar

Post Tue Nov 17, 2020 2:43 pm by DamithAsian

Agriculture, fishery..livestock Exempted 5 years

Agstar, RAL,LDEV and plantation sector to be hit 18th Wednesday

avatar

Post Tue Nov 17, 2020 4:53 pm by Kipling

Samaritan 
Do you think budget will activate mega bull. Nothing revolutionary.

avatar

Post Tue Nov 17, 2020 5:41 pm by samaritan

@Kipling wrote:Samaritan 
Do you think budget will activate mega bull. Nothing revolutionary.
Haven't gone thro' in detail but some of the salient features include the following;

  • A 50% income tax exemption to local companies if they register before 31 December 2021 to be listed in the Stock Market



  • A 50% tax exemption offered for local Companies listed in the Colombo Stock Exchange until December 31, 2021. 


 (should benefit all listed companies)


The above measures will benefit CSE.


Expediting infrastructure development including Port City, Expressways will benefit AEL, TKYO.


http://www.newswire.lk/2020/11/17/2021-budget-key-highlighlive-e/

avatar

Post Tue Nov 17, 2020 5:43 pm by Vishwanarth

@samaritan wrote:
@Kipling wrote:Samaritan 
Do you think budget will activate mega bull. Nothing revolutionary.
Haven't gone thro' in detail but some of the salient features include the following;

  • A 50% income tax exemption to local companies if they register before 31 December 2021 to be listed in the Stock Market



  • A 50% tax exemption offered for local Companies listed in the Colombo Stock Exchange until December 31, 2021. 


 (should benefit all listed companies)


The above measures will benefit CSE.


Expediting infrastructure development including Port City, Expressways will benefit AEL, TKYO.


https://www.pfizer.com/news/press-release/press-release-detail/pfizer-and-biontech-announce-vaccine-candidate-against

Bro, Carefully read the construction section in the budget. Proposed competitive materials prices to reduce cost if I'm not mistaken

avatar

Post Tue Nov 17, 2020 5:50 pm by subash81

Following companies get benefits

HAYC
DIPD
EXPO

TKYO
CIND
AEL

GRAN
TAFL
BFL

RAL
AGST

GLAS

RCL
LWL

LMF
WATA

LVEF
LPL

avatar

Post Tue Nov 17, 2020 5:54 pm by Vishwanarth

https://colombogazette.com/2020/11/17/finance-minister-presents-2021-budget-to-parliament/

avatar

Post Tue Nov 17, 2020 6:00 pm by Vishwanarth

Bros.. Is there chatting component to our forum members to speed of communication??

Mr. X

Post Tue Nov 17, 2020 6:08 pm by Mr. X

@Vishwanarth wrote:Bros.. Is there chatting component to our forum members to speed of communication??
there will be non stop fights.... lol! lol!

geesura likes this post

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Post Tue Nov 17, 2020 6:09 pm by Promoney

ACL will be hugely benefitted

judecroos likes this post

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Post Tue Nov 17, 2020 6:10 pm by sdisnaka

"Special goods & services tax on cigarette, gaming, tele-communication, and motor vehicles which contribute more than 50% of the tax revenue."


What is the tax rate for these industries going to introduce?

VS

Post Tue Nov 17, 2020 6:13 pm by VS

is it good for RIL?

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Post Tue Nov 17, 2020 6:39 pm by Vishwanarth

@sdisnaka wrote:"Special goods & services tax on cigarette, gaming, tele-communication, and motor vehicles which contribute more than 50% of the tax revenue."


What is the tax rate for these industries going to introduce?

All infrastructure for WORK FROM HOME and Study from home is in the hands of BROADBAND.. It cannot be excessively taxed😀

judecroos and sdisnaka like this post

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Post Tue Nov 17, 2020 7:48 pm by judecroos

@Promoney wrote:ACL will be hugely benefitted
No doubt ACL will benefit immensely with this proposal.

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Post Tue Nov 17, 2020 8:16 pm by wealth123

Agri Export - Renuka agri PLC, RAL will get super benifits from this Budget,
Power - VPEL with a super Dividend yield. 10% Dividend.
Manufacturing & Export - GLAS, Tile Companies.
Milk Foods - LMF
Banks - If foreigners attract to the Market SAMP, COMB, HNB will have a good time.

avatar

Post Tue Nov 17, 2020 8:17 pm by asithakaru

How about SIRA?

Post  by Sponsored content

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