The Investor Sentiment - Equity and investments forum for Sri Lankans
Search
 
 

Display results as :
 


Rechercher Advanced Search

Latest topics
» ඩොලරයේ විකුණුම් මිල රු. 167 ඉක්මවයි
Yesterday at 6:11 pm by serene

» ඩොලරයේ විකුණුම් මිල රු. 164 ඉක්මවයි
Tue Sep 18, 2018 2:42 pm by yellow knife

» BLI.N0000 ( Bimputh Finance PLC )
Tue Sep 18, 2018 10:47 am by yellow knife

» UAL.N0000 ( UNION ASSURANCE PLC )
Sun Sep 16, 2018 6:13 pm by Senarath67

» අනං මනං! #/+?.<>
Sun Sep 16, 2018 11:31 am by Yin-Yang

» CAL Securities Facilitates First Cross-Border Share Transaction by a Sri Lankan Stockbroker
Sat Sep 15, 2018 11:04 pm by serene

» මහ බැංකුව රු. බිලියන 60 ක බැඳුම්කර විකුණයි
Fri Sep 14, 2018 12:48 pm by Ethical Trader

» ඩුනාමිස් කොටස් මිල 90% කින් ඉහළට. වැඩි අයිතිය ජනශක්ති අත්පත් කර ගනී
Fri Sep 14, 2018 7:49 am by serene

» නිදහස ලැබීමෙන් පසු රු. ට්‍රිලියන 1.9 ක වැඩිම ණය ආපසු ගෙවීම මෙම වසරේ දී – මංගල
Thu Sep 13, 2018 6:44 pm by Ethical Trader

» ණය අපසු ගෙවීමට අඩු පීඩාකාරී ප්‍රතිපත්ති විකල්ප පවතින්නේ නම් සමාජ වියදම් කපා හැරීම නොකළ යුතුයි – UN විශේෂඥයා පවසයි
Wed Sep 12, 2018 6:14 pm by Ethical Trader

» Banking Sector Outlook-
Wed Sep 12, 2018 8:17 am by serene

» Dividend Announcement
Tue Sep 11, 2018 7:45 am by serene

» Sri Lankan central bank rejects currency crisis report
Tue Sep 11, 2018 7:31 am by serene

» LOFC Initiating Coverage - STRONG BUY - 29 03 17 - FC Research
Sat Sep 08, 2018 1:53 am by stockback

» අසාමාන්‍ය කොටස් මිල උච්ඡාවචනය ගැන MTD Walkers කරුණු පහදයි
Wed Sep 05, 2018 6:26 pm by Ethical Trader

» ශ්‍රී ලංකා රුපියල
Wed Sep 05, 2018 6:24 pm by Ethical Trader

» සුමල්ගේ සමාගමට කැබිනට් අනුමැතිය. රුපියල් බිලියන 2.7 ක නිවාස ව්‍යාපෘතියක්
Wed Sep 05, 2018 6:22 pm by Ethical Trader

» ධම්මික ලංකා සෙරමික් සභාපති ධූරයෙන් ඉල්ලා අස්වෙයි
Wed Sep 05, 2018 2:26 pm by nihal123

» Sri Lanka car registration up in July, tax not yet hit
Mon Sep 03, 2018 5:14 pm by Ethical Trader

» 2018 මාස 08 කදී කොළඹ කොටස් 4.54% කින් පසුබසී
Mon Sep 03, 2018 5:11 pm by Ethical Trader

» Sri Lanka rupee ends steady, stocks flat
Mon Sep 03, 2018 7:26 am by The Invisible

» Sri Lanka's August inflation in Colombo hits 5.9-pct
Mon Sep 03, 2018 7:24 am by The Invisible

» ජනාධිපතිවරණයට තවත් අපේක්ෂකයෙක්. සුමල්, ධම්මිකව යෝජනා කරයි VIDEO August, 30, 2018
Mon Sep 03, 2018 7:22 am by The Invisible

» Pictures & Stories ........
Sat Sep 01, 2018 6:57 pm by malanp

» සිංහ රෝහලට අසාධ්‍යයි
Fri Aug 31, 2018 7:56 pm by nihal123

» මාස 06 කදී වෙළෙඳ හිඟය ඩොලර් මිලියන 5,700 ඉක්මවයි
Tue Aug 28, 2018 8:01 pm by spw19721

» Billionaire Ashok Pathirage controlled Asiri Health to launch an MBBS degree Program
Tue Aug 28, 2018 5:26 pm by Ethical Trader

» දිගින් දිගටම වැඩි වෙමින් ඇති උද්ධමනය ගැන ආර්ථික විශේෂඥයින් අනතුරු අඟවයි
Mon Aug 27, 2018 11:47 am by Ethical Trader

» මැල්කම් ටර්න්බුල් පහකිරීමෙන් පසු ඕස්ට්‍රේලියාවේ අගමැති ධූරයට ස්කොට් මොරිසන්
Fri Aug 24, 2018 6:06 pm by Ethical Trader

» Sri Lanka rupee opens at new low, stocks gain 0.15-pct
Fri Aug 24, 2018 5:55 pm by Ethical Trader

» Sri Lanka's John Keells fine-tunes hotel strategy
Fri Aug 24, 2018 5:53 pm by Ethical Trader

» Sri Lanka's The Finance struggle to recover Ceylinco assets
Fri Aug 24, 2018 5:51 pm by Ethical Trader

» Sri Lanka increases planting subsidies for rubber
Thu Aug 23, 2018 10:34 am by The Invisible

» Sri Lanka eyes Euro, Yen and Renminbi bonds to cut costs
Thu Aug 23, 2018 10:33 am by The Invisible

» Sri Lanka to start first boat service in Colombo canals with navy
Thu Aug 23, 2018 10:32 am by The Invisible

» ලොකුම සමාගම් ලැයිස්තුව අලුත් වෙයි. ජෝන් කීල්ස් අභිබවා CTC අංක 1 ට
Thu Aug 23, 2018 8:41 am by Ethical Trader

» යෙන්, යුවාන්, යූරෝ බැඳුම්කර අලෙවියට ආණ්ඩුවේ සූදානමක්
Thu Aug 23, 2018 8:39 am by Ethical Trader

» හැරී ගේ මීළඟ ඉලක්කය
Wed Aug 22, 2018 5:23 pm by Ethical Trader

» Sri Lanka pension fund to value hotel stake eyed by HPL Hotels
Wed Aug 22, 2018 11:29 am by The Invisible

» Sri Lanka's Hemas Holdings profitability seen improving: Fitch
Wed Aug 22, 2018 11:27 am by The Invisible

» Sri Lanka's LMF to invest Rs2bn in new dairy farm
Wed Aug 22, 2018 11:26 am by The Invisible

» Sri Lanka’s national inflation accelerates to 3.4-pct in July
Wed Aug 22, 2018 11:23 am by The Invisible

» Sri Lanka rupee ends at new low, stocks flat
Wed Aug 22, 2018 11:22 am by The Invisible

» Elsewhere vs SL : Honesty, Social responsibility , Word twisting and Decency
Tue Aug 21, 2018 11:00 pm by Expert

» මහජන බැංකුවෙන් ජෙහාන් ගේ සමාගමට දුන් රු. බිලියන 10 ගැන මහ බැංකුව මෙසේ කියයි
Tue Aug 21, 2018 9:26 pm by Rana

» මැරියට් ආයෝජනයෙන් ඉවත් වන්නේ ප්‍රමාණවත් ප්‍රතිලාභයක් ලැබුණොත් පමණයි – EPF අවධාරණය කරයි
Tue Aug 21, 2018 6:07 pm by Ethical Trader

» Sri Lanka to charge 7-pct tax from banks on added value
Mon Aug 20, 2018 5:51 pm by Ethical Trader

» Sri Lanka rupee opens weaker, stock gain
Mon Aug 20, 2018 5:49 pm by Ethical Trader

» Sri Lanka's EPF delay holding up hotel sale: East West
Mon Aug 20, 2018 5:49 pm by Ethical Trader

» Sri Lanka hotel room price controls not removed: Minister
Mon Aug 20, 2018 5:46 pm by Ethical Trader

September 2018
SunMonTueWedThuFriSat
      1
2345678
9101112131415
16171819202122
23242526272829
30      

Calendar Calendar

Disclaimer


Information posted in this forum are entirely of the respective members' personal views. The views posted on this open online forum of contributors do not constitute a recommendation buy or sell. The site nor the connected parties will be responsible for the posts posted on the forum and will take best possible action to remove any unlawful or inappropriate posts.
All rights to articles of value authored by members posted on the forum belong to the respective authors. Re-using without the consent of the authors is prohibited. Due credit with links to original source should be given when quoting content from the forum.
This is an educational portal and not one that gives recommendations. Please obtain investment advises from a Registered Investment Advisor through a stock broker

Sri Lanka needs more taxes to cover SOE losses,

Go down

Sri Lanka needs more taxes to cover SOE losses,

Post by Backstage on Fri Dec 08, 2017 11:31 am

Sri Lanka needs more taxes to cover SOE losses, energy pricing to help: IMF
Dec 08, 2017

ECONOMYNEXT - Sri Lanka is on track to collect more taxes from a new income tax law, but losses at state enterprises and debt servicing requires even better budgets, the International Monetary Fund has said.

"…Sri Lanka’s high debt burden, large gross financing needs, and weak financial performance of state-owned enterprises increases the importance of further fiscal consolidation.," IMF Deputy Managing Director, Mitsuhiro Furusawa said after approving a 251.4 million US dollar (SDR 177.774 million tranche payment under a three year program.

Sri Lanka's state-run Ceylon Electricity Board and Ceylon Petroleum Corporation is mis-used by the elected ruling class to give off-budget bank-financed subsidies which de-stabilizes the credit system.

Under the IMF program, market pricing of both fuel and electricity was to be have been original done before December 2016, but has been delayed to next year.

"Timely progress in structural reforms, including tax administration and energy pricing, will support fiscal consolidation," Furusawa said.

At the moment, CPC is running losses selling petrol, diesel and particularly kerosene. There are however excise taxes on petrol and some on diesel.

Cheap kerosene is encouraging distributors - especially those run by corrupt co-operative societies - to mix with petrol.

CPC is however selling furnace oil at a higher margin, which however may be hurting industries and the Ceylon Electricity Board.

The current administration has also suspended a court directed price formula for LP gas, generating financial volatility at Litro Gas, a state firm and Laugfs, a private listed business group, which has a distribution duopoly.

The administration has also failed to privatize SriLankan Airlines which has continued to run losses. A hole in SriLankan's balance sheet expanded to 107 billion rupees in the year to March 2016, up from 80.4 billion rupees a year earlier.
A hole in the balance sheet has grown to 67.7 billion rupees by 2016, up 4.01 billion rupees from 2015, a report by the Public Enterprise Department of the Finance Ministry showed.

Sri Lanka Transport Board, a state bus service has guzzled 41 billion rupees in two years. A revamped income tax law under the IMFis only expected to bring an additional 25 billion rupees a year. (Colombo/Dec08/2017)
avatar
Backstage
Top contributor
Top contributor

Posts : 3279
Join date : 2014-02-24

Back to top Go down

Re: Sri Lanka needs more taxes to cover SOE losses,

Post by Ethical Trader on Fri Dec 08, 2017 12:04 pm

Thanks Back.
avatar
Ethical Trader
Top contributor
Top contributor

Posts : 4265
Join date : 2014-02-28

Back to top Go down

Back to top


 
Permissions in this forum:
You cannot reply to topics in this forum