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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » LOFC is liable to pay VAT 18% and 25% one-off Surcharge tax

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

+3
Hope123
Sunimal
Peris.G
7 posters

Go down  Message [Page 1 of 1]

Peris.G


Equity Analytic
Equity Analytic

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 

Gajaya likes this post

Sunimal

Sunimal
Senior Equity Analytic
Senior Equity Analytic

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

Hope123


Manager - Equity Analytics
Manager - Equity Analytics

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


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

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

Gajaya dislikes this post

ResearchMan

ResearchMan
Manager - Equity Analytics
Manager - Equity Analytics

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


Manager - Equity Analytics
Manager - Equity Analytics

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

Swissinvest


Manager - Equity Analytics
Manager - Equity Analytics

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


Senior Equity Analytic
Senior Equity Analytic

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


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

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

Gajaya dislikes this post

Swissinvest


Manager - Equity Analytics
Manager - Equity Analytics

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

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