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FINANCIAL CHRONICLE™ » EXPERT CHRONICLE™ » BUDGET 2021

BUDGET 2021

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20201115

BUDGET 2021  - Page 3 Empty BUDGET 2021

Harry82


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
BUDGET 2021  - Page 3 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 Tue Nov 17, 2020 11:52 pm by Rational Investor

@Accountant wrote:
@Win Win wrote:TKYO / CIND / AEL
LVEF / LPL / VLL / HPFL / PAP
DIPD / HAYC / REXP / BPPL / RICH / RAL / MGT / RAL
TAP / ECL

Was GLAS missed firm this list or was it excluded cuz of a particular reason?
I reckon you missed the biggest one - LMF. Very Happy

dakzsl and judecroos like this post

Post Wed Nov 18, 2020 1:49 am by Teller

When i transfer 1 $ to sri lanka, i will get 2 rupees. 😋😋😋😋😋😋😋😋😋😋😋😋😋😋😋😋😋😋😋😋😋😋😋😋✈✈✈✈✈✈✈✈✈✈✈✈✈✈✈✈✈✈✈✈✈✈✈✈✈✈🍌🍌🍌🍌🍌🍌🍌🍌🍌🍌🍌🍌🍌🍌🍌🍌🍌monkeymonkeymonkeymonkeymonkeymonkeymonkeymonkeymonkeymonkeymonkeymonkeymonkey

Post Wed Nov 18, 2020 1:58 am by sanjeeva1982

@Jana wrote:
@කොටස් වෙළඳපොළ2020 wrote:
03:57 PM  -  පුනර්ජනනීය බලශක්ති ව්‍යාපෘති සඳහා අවුරුදු හතක බදු නිවාඩු ලබා දීම


03:57 PM - Granting Seven Year Lease relief for Renewable Energy Projects



The most popular renewable energy sources currently are:

  • Solar energy.
  • Wind energy.
  • Hydro energy.
  • Tidal energy.
  • Geothermal energy.
  • Biomass energy.




So hydropower will get benefits. not only short term next 7 years 
HPWR hydropower right ?

Post Wed Nov 18, 2020 8:29 am by RajapaksaDON

@sanjeeva1982 wrote:
@Jana wrote:
@කොටස් වෙළඳපොළ2020 wrote:
03:57 PM  -  පුනර්ජනනීය බලශක්ති ව්‍යාපෘති සඳහා අවුරුදු හතක බදු නිවාඩු ලබා දීම


03:57 PM - Granting Seven Year Lease relief for Renewable Energy Projects
 


The most popular renewable energy sources currently are:

  • Solar energy.
  • Wind energy.
  • Hydro energy.
  • Tidal energy.
  • Geothermal energy.
  • Biomass energy.




So hydropower will get benefits. not only short term next 7 years 
HPWR hydropower right ?

This is for new projects I believe ? Existing companies already enjoyed or enjoying tax holidays. Bcz Govts before 2015 also offered such consessions.  

Need to check with Finance Ministry.

judecroos likes this post

avatar

Post Wed Nov 18, 2020 8:40 am by DamithAsian

@Rational Investor wrote:
@Accountant wrote:
@Win Win wrote:TKYO / CIND / AEL
LVEF / LPL / VLL / HPFL / PAP
DIPD / HAYC / REXP / BPPL / RICH / RAL / MGT / RAL
TAP / ECL

Was GLAS missed firm this list or was it excluded cuz of a particular reason?
I reckon you missed the biggest one - LMF. Very Happy
where ACL ???

avatar

Post Wed Nov 18, 2020 8:53 am by Win Win

@DamithAsian wrote:
@Rational Investor wrote:
@Accountant wrote:
@Win Win wrote:TKYO / CIND / AEL
LVEF / LPL / VLL / HPFL / PAP
DIPD / HAYC / REXP / BPPL / RICH / RAL / MGT / RAL
TAP / ECL

Was GLAS missed firm this list or was it excluded cuz of a particular reason?
I reckon you missed the biggest one - LMF. Very Happy
where ACL ???

LMF is a good company. LMF already invested under BOI. Therefore, no need budgeted benefit. But, when import cattles for future grwth, they can enjoy,,

GLAS acquisition will be created the positive momentum.

However, TKYO will have a significant impact on without relaxing import ban. All energy sector should go up today, most benefitted sector. They can expand their business easily. I think LVEF, PAP, LPL & VPEL will do it better, bcz Lanka Ventures can easily fund & direct LVEF. They have being seeking investment opportunities. PAP already focused wind & solar sector. LPL has a strong connection with the gvt. They will invest more & more in Hambantota for Energy generation.. VPEL Management is seeking to enter different energy sources for their next 5 yrs business expansion.

LVEF, LPL & VLL usually try to expand their business for growth.
We can see a good price appreciation in this sector specially LVEF, LPL, PAP, VLL with reasons... Further, investors who invest in LVEF is entitle Rs.0.17 dividend, VPEL dividend just expired, therefore, it price is difficult to go by massively today..

wealth123, RJ1010 and judecroos like this post

avatar

Post Wed Nov 18, 2020 10:10 am by subash81

HAYC
DIPD
HAYL
EXPO
GLAS
RAL
AGST
RCL
LWL
GRAN
RICH
CIND
TKYO

LVEF
LPL
LMF

judecroos likes this post

avatar

Post Wed Nov 18, 2020 10:54 am by Win Win

[font=Courier New]Overall budget is good for CSE

It is very positive for categorizing CSE investments as Qualifying payments. Rich individual will receive good benefits.. & direct foreign company dividends to reinvest in money & capital markets..

avatar

Post Wed Nov 18, 2020 10:58 am by DamithAsian

Add

AGST.....silent rocket

avatar

Post Wed Nov 18, 2020 8:52 pm by Quibit

Those who have been thinking of collecting EPF in another few years. But with the new budget decision to extend retirement age to 60, now they will have to wait another 5 years. What a smart move by the GOSL to delay repayment. #srilanka #Budget2021

avatar

Post Thu Nov 19, 2020 2:50 am by ThivankS

What is your opinion on HrashaD's comments on 2020 GDP and 2021 GDP calculations? Will it be an international disadvantage that will ruin the country's reputation? Also, JVP is making bi ha ho claiming govt officially doing money laundering. What are your feelings?  Sad

avatar

Post Thu Nov 19, 2020 5:35 am by Quibit

BUDGET 2021  - Page 3 Scree120

The Budget for 2021 is focused on supporting the economy amidst massive disruptions to business activity due to lockdowns resulting from the spread of the COVID-19 pandemic, while taking measures to promote domestic investments to revive the economy. Heavy focus has been laid on continuing its infrastructure drive with concentration also placed on consolidating the NBFI segment and providing tax holidays for targeted selective sectors. As the Government takes forward its fiscal and monetary stimulus package, budget deficit expands to 8.9% of GDP for 2021 while the Debt to GDP ratio is expected to rise to 96%.

Government’s tax simplification policy is taken forward as it plans to combine multiple taxes to GST while also investing further on the RAMIS system. Protecting local industries in this time of survival is priority for the Government, as it plans to expand CESS to protect local industries. Selective sectors such as agriculture, fisheries, renewable energy and ship building has been provided tax holidays to promote the sectors. In order to support the tourism sector the debt moratorium granted has been further expanded.

The budget has a special focus on investing in infrastructure with funds being allocated to expand the expressway network, road network and continuing housing projects supported by low cost housing loans. Strengthening the NBFI sector has been identified as a critical point with proposals placed for consolidation within the sector while also recommending a National Development Banking Corporation, merging multiple small state banks.

As Capital Market Development measures, tax holidays were proposed for newly listed firms with multiple benefits granted to promote REITs within the capital market sphere.

https://www.firstcapital.lk/wp-content/uploads/2020/11/First-Capital-Budget-Review-2021.pdf

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