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Govt drops proposal to tax profits from share trading

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Govt drops proposal to tax profits from share trading

Post by roshana7549 on Thu Aug 24, 2017 4:49 pm

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

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Re: Govt drops proposal to tax profits from share trading

Post by Ethical Trader on Thu Aug 24, 2017 5:15 pm

This is a good news. Thanks Roshana for sharing.
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Govt drops proposal to tax profits from share trading

Post by sashimaal on Thu Aug 24, 2017 6:21 pm

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
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Re: Govt drops proposal to tax profits from share trading

Post by sashimaal on Thu Aug 24, 2017 6:23 pm

Mkt should bounce back tomorrow Very Happy
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Re: Govt drops proposal to tax profits from share trading

Post by nihal123 on Thu Aug 24, 2017 6:28 pm

Thanks sashi
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Re: Govt drops proposal to tax profits from share trading

Post by spw19721 on Thu Aug 24, 2017 7:15 pm

Thanks shashi..

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Re: Govt drops proposal to tax profits from share trading

Post by jiggysaurus on Thu Aug 24, 2017 9:38 pm

Ayyo aparadey. Was waiting for a shoeshine sale.

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

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Re: Govt drops proposal to tax profits from share trading

Post by CK on Thu Aug 24, 2017 9:45 pm

sashimaal wrote:Mkt should bounce back tomorrow  Very Happy
Yes. Jkh turn will be crucial  Basketball
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Re: Govt drops proposal to tax profits from share trading

Post by sashimaal on Thu Aug 24, 2017 9:47 pm

lol!

jiggysaurus wrote:Ayyo aparadey. Was waiting for a shoeshine sale.

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