Govt drops proposal to tax profits from share trading

[roshana7549]

August 24, 2017 04:42 pm

By Sanchith Karunaratna
Reluctance shown by investors over the proposed tax on profits from share trading that was planned as a part of the tax reform bill, has prompted the government to drop the corresponding tax.

Sri Lanka’s principal share index has shed 4.1 percent since July 27 through Wednesday and has fallen in 16 out of the past 18 sessions due also over fears about the proposed tax.

Speaking to Reuters, State Minister of Finance Eran Wickramaratne stated that no changes will be made to the taxes levied on stock transactions. Many investors have expressed their satisfaction with the decision stating that it will revitalize the stock market providing increased investor confidence in the Sri Lankan market.

http://www.adaderana.lk/news/42670/govt-drops-proposal-to-tax-profits-from-share-trading

[Ethical TraderTop contributor]

This is a good news. Thanks Roshana for sharing.

[sashimaalTop contributor]

Reluctance shown by investors over the proposed tax on profits from share trading that was planned as a part of the tax reform bill, has prompted the government to drop the corresponding tax.

Sri Lanka’s principal share index has shed 4.1 percent since July 27 through Wednesday and has fallen in 16 out of the past 18 sessions due also over fears about the proposed tax.

Speaking to Reuters, State Minister of Finance Eran Wickramaratne stated that no changes will be made to the taxes levied on stock transactions. Many investors have expressed their satisfaction with the decision stating that it will revitalize the stock market providing increased investor confidence in the Sri Lankan market.

http://www.adaderana.lk/news/42670/govt-drops-proposal-to-tax-profits-from-share-trading

[sashimaalTop contributor]

Mkt should bounce back tomorrow

[nihal123Top contributor]

Thanks sashi

[spw19721Active Member]

Thanks shashi..

[jiggysaurusTop contributor]

Ayyo aparadey. Was waiting for a shoeshine sale.

This is the problem in begger nation. No policy consistency.

[CKActive Member]

Mkt should bounce back tomorrow  

Yes. Jkh turn will be crucial 

[sashimaalTop contributor]

Ayyo aparadey. Was waiting for a shoeshine sale.

This is the problem in begger nation. No policy consistency.