LOFC is liable to pay VAT 18% and 25% one-off Surcharge tax

Peris.G

Peris.G

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Budget proposals-

25% one-off surcharge tax to be imposed on organization/indivduals with a taxable income over Rs.2Bn for Y/A 2020/2021

VAT on financial services 18% This tax can not be charged from the customers of the financial institute.

I had a discussion with professionally qualified tax consultants regarding budget 2022

Both of these will negatively affect towards the bottom line/profit since this tax could not be passed on to customers

LOFC holders will disagree with the statement. but can not be make any changes on budget 2022

Hopefully we can see blood bath on monday

Sunimal

Sunimal

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Sad but true. Best way is be prepared for it.

Hope123

Hope123

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Peris.G wrote:Budget proposals-

25% one-off surcharge tax to be imposed on organization/indivduals with a taxable income over Rs.2Bn for Y/A 2020/2021

VAT on financial services 18% This tax can not be charged from the customers of the financial institute.

I had a discussion with professionally qualified tax consultants regarding budget 2022

Both of these will negatively affect towards the bottom line/profit since this tax could not be passed on to customers

LOFC holders will disagree with the statement. but can not be make any changes on budget 2022

Hopefully we can see blood bath on monday

If your statement is true, why it is effect only on LOFC??? How about other finance companies such as CLC, KZOO, LOLC, VIFIN, LFIN, CFIN etc etc

stockchaser

stockchaser

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Hope123 wrote:

Peris.G wrote:Budget proposals-

25% one-off surcharge tax to be imposed on organization/indivduals with a taxable income over Rs.2Bn for Y/A 2020/2021

VAT on financial services 18% This tax can not be charged from the customers of the financial institute.

I had a discussion with professionally qualified tax consultants regarding budget 2022

Both of these will negatively affect towards the bottom line/profit since this tax could not be passed on to customers

LOFC holders will disagree with the statement. but can not be make any changes on budget 2022

Hopefully we can see blood bath on monday

If your statement is true, why it is effect only on LOFC??? How about other finance companies such as CLC, KZOO, LOLC, VIFIN, LFIN, CFIN etc etc

PerisG you are fake pussy

ResearchMan

ResearchMan

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Companies likely to be impacted(one-off):
Banks, LOLC,LLUB, EXPO, CDB,DIAL, SLTL, LFIN, CFIN, VFIN, HHL,BUKI DARAH,DIPD,CARSON,CIC,CDB, SINGER,CINS,SLTL, DIST, TOKYO CEMENT,JKH,HAYL,RCL, LOLC FINANCE,PLC, RICH,MEL,HHL,CARGHAYCAB,LWL, NESTLE,CEYLONG GUARDIANS, SINGER, CCS,LION BREWERY,TILES,CT HOLDINGS,COMERCIAL LEASING AND FINANCE, AEL, TEEJAY,COMMERCAIL CREDIT AND FINANCE
Any way have to do more research.

Swissinvest

Swissinvest

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All Larger Banks and NBFI will be affected Not only LOFC.
The value appreciation of LOFC has many other reasons.

Swissinvest

Swissinvest

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The impact of this tax may be minimal as the Actual Income Tax Expense has been ranging only 3% in 2020/21 and 2019/20 at Statutory Tax rates 24% and 28% during those years.

Tax effect of other allowable credits (Note 28.1).
Fair value change in investment properties (Note 23).
Source: LOFC 2020/21 AR NOTES TO THE FINANCIAL STATEMENTS

LOFC is liable to pay VAT 18% and 25% one-off Surcharge tax Tax10

Gowri123

Gowri123

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Looks like someone wants to collect LOFC at low

🤭...too bad, exactly opposite going to happen on Monday... LOFC will rock....keep dreaming peris g🤪

stockchaser

stockchaser

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Gowri123 wrote:Looks like someone wants to collect LOFC at low 🤭...too bad, exactly opposite going to happen on Monday... LOFC will rock....keep dreaming peris g🤪

Perisg blady asshole .. trying to fool newcomers .. who is this bugger came to this forum .. Okawa elawaladapang .. People don't caught to this type of people .. they couldn't collect and now trying to spoil the maket by telling bull stories.. Peris G u go and fly a kite .. Balang hitapang lofc aduwataganna .. booruwa

Swissinvest

Swissinvest

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LOFC is liable to pay VAT 18% and 25% one-off Surcharge tax Eeeeee12

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Latest topics

LOFC is liable to pay VAT 18% and 25% one-off Surcharge tax

1 LOFC is liable to pay VAT 18% and 25% one-off Surcharge tax Sat Nov 13, 2021 12:30 am

Peris.G

2 Re: LOFC is liable to pay VAT 18% and 25% one-off Surcharge tax Sat Nov 13, 2021 8:46 am

Sunimal

3 Re: LOFC is liable to pay VAT 18% and 25% one-off Surcharge tax Sat Nov 13, 2021 9:46 am

Hope123

4 Re: LOFC is liable to pay VAT 18% and 25% one-off Surcharge tax Sat Nov 13, 2021 10:24 am

stockchaser

5 Re: LOFC is liable to pay VAT 18% and 25% one-off Surcharge tax Sat Nov 13, 2021 10:26 am

ResearchMan

6 Re: LOFC is liable to pay VAT 18% and 25% one-off Surcharge tax Sat Nov 13, 2021 4:19 pm

Swissinvest

7 Re: LOFC is liable to pay VAT 18% and 25% one-off Surcharge tax Sat Nov 13, 2021 5:04 pm

Swissinvest

8 Re: LOFC is liable to pay VAT 18% and 25% one-off Surcharge tax Sat Nov 13, 2021 8:24 pm

Gowri123

9 Re: LOFC is liable to pay VAT 18% and 25% one-off Surcharge tax Sat Nov 13, 2021 9:00 pm

stockchaser

10 Re: LOFC is liable to pay VAT 18% and 25% one-off Surcharge tax Sun Nov 14, 2021 5:12 pm

Swissinvest