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

Display results as :
 


Rechercher Advanced Search

Latest topics
» Delay in 2017 Budget move locks billions of capital in listed firms
Today at 6:07 am by Ethical Trader

» Sri Lanka Investment Forum held in USA
Today at 6:01 am by Ethical Trader

» LLUB.N0000 (CHEVRON LUBRICANTS LANKA PLC)
Today at 4:06 am by Ethical Trader

» NBFI Sector
Today at 2:22 am by yellow knife

» The CFA Curriculum, As Explained with Two Cows
Yesterday at 2:27 pm by කිත්සිරි ද සිල්වා

» පිටිදූවේ සිරිධම්ම හිමි ඇත්ත කතා කරයි.
Yesterday at 2:01 pm by CK

» Social Capital CEO Chamath Palihapitiya: The paradox of ego and humility
Yesterday at 2:00 pm by CK

» LION.N0000 (Lion Brewery Ceylon PLC)
Yesterday at 10:41 am by The Alchemist

» කොළඹ ඉඩම් මිල අහස උසට නගී. වසරක් තුළ 36% කින් මිල ඉහළ ගිහින්
Fri Oct 20, 2017 9:55 am by Ethical Trader

» Scandal at Thai shareholder of Sri Lanka's Commercial Credit takes new turn
Fri Oct 20, 2017 7:09 am by Backstage

» Dividend Announcement
Fri Oct 20, 2017 5:54 am by Ethical Trader

» මානව ඉතිහාසයේ සිදු වූ 'මහා විෂ ශරීරගතවීම" නිමාවන ලකුණු
Fri Oct 20, 2017 5:43 am by Ethical Trader

» Laughter the Best Medicine
Fri Oct 20, 2017 4:47 am by Ethical Trader

» LIOC.N0000 (Lanka IOC PLC)
Fri Oct 20, 2017 3:08 am by yellow knife

» East West ගනුදෙනුවෙන් කොටස් පිරිවැටුම බිලියනය පනී
Thu Oct 19, 2017 9:20 am by yellow knife

» මූල්‍ය සමාගමක හිටපු විදෙස් අධ්‍යක්ෂවරයෙකුට අපරාධ චෝදනා එල්ල වෙයි
Thu Oct 19, 2017 8:11 am by nihal123

» එන්ට්‍රස්ට් මුදල් ගිලපු හැටි ගිණුම් වාර්තා හෙළි කරයි
Thu Oct 19, 2017 7:12 am by Ethical Trader

» රැන්සම්වෙයාර් වෛරසය නිසා ඇන්ඩ්‍රොයිඩ් දුරකථන අවදානමේ
Thu Oct 19, 2017 6:07 am by Ethical Trader

» How to identify a stock market bottom
Tue Oct 17, 2017 11:45 am by Ethical Trader

» ලොව බලවත්ම ගැහැනිය වූ සායම් බාස්‌ගේ දුව
Tue Oct 17, 2017 10:33 am by Ethical Trader

» CIC රුපියල් මිලියන 238 කට කෘෂි රසායනික සමාගමක් මිල දී ගනී
Mon Oct 16, 2017 1:19 pm by nihal123

» ධම්මික පෙරමුණට එයි
Mon Oct 16, 2017 9:53 am by Ethical Trader

» Govt. mulls removing barriers to allow Lankan firms hire foreign labour
Sun Oct 15, 2017 5:00 am by කිත්සිරි ද සිල්වා

» Panama Papers: Huge leak reveals elite's tax havens/ධනවතුන්, බලවතුන් ධනය හැංගූ හැටි හෙළිවෙයි .ලංකාවත් පැනමා පේපර්ස් ලැයිස්තුවේ
Fri Oct 13, 2017 11:19 am by yellow knife

» කොටස් මිල ඉහළ යාම ගැන CSE විමසයි. HVA කරුණු පහදයි
Fri Oct 13, 2017 6:00 am by Ethical Trader

» තායිවාන් ගිණුම් හැක්‌ කර කෝටි 35කට විදලා! - හිටපු හමුදා පුත්‍රයා රිමාන්ඩ්
Wed Oct 11, 2017 5:02 pm by nihal123

» The Myth of Average !
Mon Oct 09, 2017 7:43 am by Expert

» SPEN.N0000
Mon Oct 09, 2017 7:06 am by nihal123

» Plantation sector updates
Sat Oct 07, 2017 1:11 pm by Senarath67

» Plantation Sector - Yesterday, Today and Tomorrow
Sat Oct 07, 2017 6:49 am by CK

» කොටස්-වෙළෙඳ-පොළට-සූදු-කෙළින්නන්-ඇවිත්?
Wed Oct 04, 2017 1:19 pm by CK

» GSP+ ලැබීමෙන් පසු ඇඟලුම් අපනයන ආදායම ඉහළ ගියේ මෙහෙමයි
Tue Oct 03, 2017 9:47 am by Rana

» TJL.N0000 (Textured Jersey Lanka PLC.)
Tue Oct 03, 2017 8:11 am by CK

» ගෝලීය තරඟකාරීත්ව දර්ශකයේ 85 වැනි ස්ථානය දක්වා ශ්‍රී ලංකාව පහළට
Mon Oct 02, 2017 10:07 am by Ethical Trader

» කාගිල්ස්, මිලියන 4,200 කට ඩෝසන් කාර්යාල සංකීර්ණය විකුණයි
Mon Oct 02, 2017 5:49 am by nihal123

» SAMP.N0000 (SAMPATH BANK PLC)
Mon Oct 02, 2017 5:10 am by Ethical Trader

» In the Meantime, Within Our Shores !
Sat Sep 30, 2017 3:34 pm by කිත්සිරි ද සිල්වා

» සනත් අයියා ගහන ගැහිලි !
Fri Sep 29, 2017 1:25 pm by Ethical Trader

» 'මොනා ලීසා' නිරුවත් උඩු කයින්
Fri Sep 29, 2017 1:12 pm by Ethical Trader

» CB Governor offers key insights
Fri Sep 29, 2017 5:27 am by කිත්සිරි ද සිල්වා

» The Govt. Doesn’t wish to pay off debts at once’
Thu Sep 28, 2017 4:38 pm by Backstage

» රවීගේ ‘මහ බැංකු හොරු‘ කතාවට අධිපති ප්‍රතිචාර දක්වයි
Thu Sep 28, 2017 11:47 am by Ethical Trader

» Sri Lanka Hambantota Port JV to be operational from November
Thu Sep 28, 2017 11:44 am by Ethical Trader

» Obituary Notice.
Thu Sep 28, 2017 9:35 am by කිත්සිරි ද සිල්වා

» නේෂන් ලංකා තැරැව්කරුට සියලු ගනුදෙනු තහනම්
Wed Sep 27, 2017 2:34 pm by nihal123

» තායිලන්තයේ හිටපු අගමැතිනියට සිර දඬුවම්
Wed Sep 27, 2017 12:32 pm by Ethical Trader

» විද්‍යා ඝාතනය: වරදකරුවන් හත් දෙනෙකුට මරණ දඬුවම
Wed Sep 27, 2017 12:29 pm by Ethical Trader

» Flying is the Safest mode of Transport
Wed Sep 27, 2017 12:03 pm by කිත්සිරි ද සිල්වා

» Oil,gold, silver Prices
Wed Sep 27, 2017 8:38 am by කිත්සිරි ද සිල්වා

» JKH.N0000
Wed Sep 27, 2017 6:07 am by LSE

October 2017
SunMonTueWedThuFriSat
1234567
891011121314
15161718192021
22232425262728
293031    

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 parliament lifts land lease tax on foreigners from Jan 08

View previous topic View next topic Go down

Sri Lanka parliament lifts land lease tax on foreigners from Jan 08

Post by sashimaal on Wed Feb 08, 2017 5:47 pm

ECONOMYNEXT - Sri Lanka's legislators approved changes to the land alienation law in Sri Lanka that removed a 15 percent nationalist tax on land leased to foreigners with effect from January 08, 2017.

Foreigners were barred from owning free hold land during the ousted Rajapaksa regime and the tax was imposed on leases during the ousted Rajapaksa regime.

Under changes, foreigners, foreign companies and locally incorporated companies with more than 50 percent foreign ownership will be allowed to lease land without a penal tax.

Sri Lanka earlier permitted freehold land sales to foreigners with a 100 percent tax.

The tax was one of a series of nationalist measures that was imposed by an assembly elected out of the popular vote which also included robbing language freedoms of the people after gaining self-determination from British rule. (Colombo/Feb08/2017)
avatar
sashimaal
Top contributor
Top contributor

Posts : 5526
Join date : 2014-02-28

Back to top Go down

Re: Sri Lanka parliament lifts land lease tax on foreigners from Jan 08

Post by yellow knife on Thu Feb 09, 2017 1:53 am

Welcome the Ethiopian Development Model...

( Pictures save words )























yellow knife
Top contributor
Top contributor

Posts : 5572
Join date : 2014-03-27

Back to top Go down

Re: Sri Lanka parliament lifts land lease tax on foreigners from Jan 08

Post by sashimaal on Thu Feb 09, 2017 2:30 am

Rubbish. Pictures say what you want to say !

Why land grab?

Now the price paid by foreigners to holders (domestic and foreign) ; land will go up and they will get a better deal.
avatar
sashimaal
Top contributor
Top contributor

Posts : 5526
Join date : 2014-02-28

Back to top Go down

Re: Sri Lanka parliament lifts land lease tax on foreigners from Jan 08

Post by yellow knife on Thu Feb 09, 2017 2:56 am

Land price will go up... and the foreigners will buy these land and do activities which the locals could have done themselves...

The same happened in Ethiopia..

You who do not like to read the pictures as it is not in your line of thinking fail to understand what is happening in Ethiopia...

In Ethiopia and Indian firm is growing wheat, export it to India and UN buy wheat from India and donate it to dying Ethiopia..

look at the cartoon that says

" We bought it very cheap from Silly Africans...".. Though it is said to be land grab its a sales contract..

Shashi

Has China developed because they sold their Land ? How about Japan ? How about South Korea..?

Isnt it the locals did the development ?

Shashi

Why has the government prompted to sell land and live Today Only ? Because they have failed to attract FDIs and last year was one of the worst in attracting FDIs...

I kindly request you to read and listen to others who have opposing views or else prohibit people like me entering to this forum...

Thank You

yellow knife
Top contributor
Top contributor

Posts : 5572
Join date : 2014-03-27

Back to top Go down

Re: Sri Lanka parliament lifts land lease tax on foreigners from Jan 08

Post by sashimaal on Thu Feb 09, 2017 3:16 am

YK,

Who is stopping locals from doing these activities now?

If foreigners get good land (and pay higher prices), the seller will hopefully do something better with it. Also if they pay high prices they must be having a business strategy.

Remember when they bought the seaside houses... They were crumbling but they started an entirely new business of high end boutique hotels, apartments.

So some poor person with ancestral land will get a proper price. At the moment some Colombo based rich family will buy it for a song.

This rich family knowing above situation will use the best and the easiest trumps to defeat it - NATIONALISM & Protectionism ! They will "fool" the poor with words that touch the heart, in order for them to remain rich !
avatar
sashimaal
Top contributor
Top contributor

Posts : 5526
Join date : 2014-02-28

Back to top Go down

Re: Sri Lanka parliament lifts land lease tax on foreigners from Jan 08

Post by කිත්සිරි ද සිල්වා on Thu Feb 09, 2017 4:27 am

I think we should forget the political affiliation here on this issue.
This will have a direct impact on the food security in the country in the future.
One need not to look far, the history of Africa is giving enough reasons for us to be very careful on deals of this nature.
avatar
කිත්සිරි ද සිල්වා
Top contributor
Top contributor

Posts : 6784
Join date : 2014-02-23
Age : 59
Location : රජ්ගම

Back to top Go down

Re: Sri Lanka parliament lifts land lease tax on foreigners from Jan 08

Post by yaka on Thu Feb 09, 2017 5:09 am

shashi,

what good those foreign own hotels have brought to the country?

yaka

Posts : 374
Join date : 2014-02-28

Back to top Go down

No more tax on lease of land by foreigners

Post by sashimaal on Thu Apr 06, 2017 9:22 am

Land (Restrictions on Alienation) Amendment Act No. 3 of 2017 has been signed into law.

The amendment essentially removes the tax which was payable on the lease of land by foreigners effective from 8 January 2017.

Previously a standard rate of 15% was applicable while there was a concessionary rate of 7.5% as well.

According to the amending act, Land Lease Tax will not apply to the lease of land to the following parties on any indenture of lease executed on or after 8 January 2017:

(a) A foreigner.

(b) A company incorporated in Sri Lanka under the Companies Act, where any foreign shareholding in such a company, either direct or indirect, is 50% or above.

(c) A foreign company.


- See more at: http://www.ft.lk/article/608254/No-more-tax-on-lease-of-land-by-foreigners#sthash.Z2cjE23c.dpuf
avatar
sashimaal
Top contributor
Top contributor

Posts : 5526
Join date : 2014-02-28

Back to top Go down

Re: Sri Lanka parliament lifts land lease tax on foreigners from Jan 08

Post by lanka on Thu Apr 06, 2017 12:44 pm

Thanks, dear Sashi

lanka

Posts : 262
Join date : 2014-11-26

Back to top Go down

Re: Sri Lanka parliament lifts land lease tax on foreigners from Jan 08

Post by Rajapaksap on Sun Apr 09, 2017 5:24 am

sashimaal wrote:Land (Restrictions on Alienation) Amendment Act No. 3 of 2017 has been signed into law.

The amendment essentially removes the tax which was payable on the lease of land by foreigners effective from 8 January 2017.

Previously a standard rate of 15% was applicable while there was a concessionary rate of 7.5% as well.

According to the amending act, Land Lease Tax will not apply to the lease of land to the following parties on any indenture of lease executed on or after 8 January 2017:

(a) A foreigner.

(b) A company incorporated in Sri Lanka under the Companies Act, where any foreign shareholding in such a company, either direct or indirect, is 50% or above.

(c) A foreign company.


- See more at: http://www.ft.lk/article/608254/No-more-tax-on-lease-of-land-by-foreigners#sthash.Z2cjE23c.dpuf


According to above local companies with no foreign equity 50% or more will have to pay tax? If 'yes' no level playing field. Is it?

Rajapaksap

Posts : 67
Join date : 2014-04-14

Back to top Go down

View previous topic View next topic Back to top


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