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

Display results as :
 


Rechercher Advanced Search

Latest topics
» Colombo Tea Auction Statistics - Q1 17 Vs Q1 18
Today at 11:40 am by lanka

» Sri Lanka Telecom sees data revenue growing, margins falling
Fri Apr 20, 2018 10:54 am by The Invisible

» රු. බිලියන 11 ක කොටස් ජනශක්ති ඉන්ෂුවරන්ස් යළි මිල දී ගනී
Fri Apr 20, 2018 10:53 am by The Invisible

» Sri Lanka’s eChannelling offers video medical consultations, drug delivery
Fri Apr 20, 2018 10:28 am by The Invisible

» Happy Birthday
Fri Apr 20, 2018 10:05 am by nihal123

» තෙල් බැරලය ඩොලර් 100 ට යන ලකුණු?
Fri Apr 20, 2018 8:39 am by කිත්සිරි ද සිල්වා

» Sri Lanka’s Cargills Bank to list in 2020
Fri Apr 20, 2018 8:36 am by කිත්සිරි ද සිල්වා

» Sri Lankan stocks end lower, foreign buying in CCS
Fri Apr 20, 2018 7:31 am by The Invisible

» බැංකු යනවා නම් උදෙන්ම යන්න – හෙට බැංකු වරුවයි
Thu Apr 19, 2018 10:49 pm by nihal123

» Sri Lanka gold, jewellery price up after tax hike
Thu Apr 19, 2018 10:08 pm by nihal123

» DOCK.N0000 (COLOMBO DOCKYARD PLC)
Thu Apr 19, 2018 8:29 pm by pjrngroup

» Films - To Watch List
Thu Apr 19, 2018 8:12 pm by pjrngroup

» Sri Lanka 01-year Treasuries yield drops to 9.65-pct
Thu Apr 19, 2018 7:29 am by yellow knife

» Sri Lanka's TAFL says exports of parent chicks up, weak domestic demand
Thu Apr 19, 2018 6:09 am by The Invisible

» Sri Lanka stocks gain 0.12-pct, rupee steadier
Thu Apr 19, 2018 6:07 am by The Invisible

» Russia Sanctions Throw Global Aluminum Supply Chain Into Chaos
Wed Apr 18, 2018 11:27 am by sashimaal

» LIOC.N0000 (Lanka IOC PLC)
Tue Apr 17, 2018 2:00 pm by yellow knife

» Sri Lanka economy to rebound, delaying reforms pose risks: World Bank
Tue Apr 17, 2018 7:28 am by The Invisible

» Sri Lanka's central bank fires salvo against cryptocurrencies
Tue Apr 17, 2018 7:25 am by The Invisible

» Sri Lanka hotel group Citrus Leisure to drop Kalpitiya hotel
Mon Apr 16, 2018 11:06 am by lanka

» Sri Lanka's CPC losse Rs9.8bn on fuel sales in two months
Mon Apr 16, 2018 7:20 am by yellow knife

» Sri Lanka US$2.5bn bond timing brought strong demand: Standard Chartered
Sun Apr 15, 2018 9:39 pm by The Invisible

» Sri Lanka President buys time for political manoeuvring
Sat Apr 14, 2018 10:19 am by කිත්සිරි ද සිල්වා

» IMF head warns China on exporting debt through 'Silk Road' amid Sri Lanka troubles
Fri Apr 13, 2018 7:49 am by The Invisible

» ශ්‍රී ලංකාවේ ණය බර ස්වාසිලන්තය, රුවන්ඩා, ඉතියෝපියාව අභිබවයි
Fri Apr 13, 2018 12:19 am by CK

» Sri Lanka to revive oil exploration, bidding round in May 2018
Thu Apr 12, 2018 9:16 am by The Invisible

» Sri Lanka cabinet re-shuffle talks ongoing: Rajitha
Thu Apr 12, 2018 9:12 am by The Invisible

» Sri Lanka sells record US$2.5bn in 5, 10-year sovereign bonds
Thu Apr 12, 2018 8:01 am by The Invisible

»  5000 Post Milestone - Congratulations
Wed Apr 11, 2018 11:56 pm by The Invisible

» Elsewhere vs SL : Honesty, Social responsibility , Word twisting and Decency
Wed Apr 11, 2018 11:40 pm by The Invisible

» Hello and CSE ?
Wed Apr 11, 2018 11:24 pm by The Invisible

» Dividend Announcement
Wed Apr 11, 2018 10:14 am by nihal123

» සංචාරකයින්, විදෙස් ශ්‍රමිකයින් ලංකාවට ඩොලර් ගෙනාවේ මෙහෙමයි
Wed Apr 11, 2018 8:26 am by කිත්සිරි ද සිල්වා

» රෝයල් ෆර්න්වුඩ් සමාගමේ ණය, දංකොටුව ‘කොටස්‘ කරයි
Tue Apr 10, 2018 10:00 pm by nihal123

» MBSL ඉන්ෂුවරන්ස් ආයෝජකයාට නියාමකයින් හරහට හිටී
Tue Apr 10, 2018 9:59 pm by nihal123

» වසරේ මුල් මාස 03 ට පැමිණි විදෙස් සංචාරකයින් සංඛ්‍යාව ලක්ෂ 7 ඉක්මවයි
Tue Apr 10, 2018 8:35 pm by nihal123

» Building an automated trading system from scratch
Tue Apr 10, 2018 9:41 am by CK

» ලංකාවේ සුපිරිම දුම්රිය ස්ථානය
Tue Apr 10, 2018 8:38 am by කිත්සිරි ද සිල්වා

» CSE Ahead : Post No confidence motion + CB actions
Mon Apr 09, 2018 9:49 am by Yin-Yang

» මහ බැංකුව නිත්‍ය ණය පොළිය අඩුකරන්න හේතු වූ කරුණු මෙන්න
Wed Apr 04, 2018 2:31 pm by nihal123

» Expert says debt repayment levy ends up 0.25% on financial VAT
Fri Mar 30, 2018 1:56 pm by TraderCSE

» ලංකාවට ජීඑස්පී දෙන්න ඩොනල්ඩ් ට්‍රම්ප් එකඟ වෙයි
Thu Mar 29, 2018 11:11 pm by spw19721

» ඇඳුම ලක්ෂ 3හමාරයි! ඔරලෝසුව ලක්ෂ 50යි! සොෆ්ට්ලොජික් හිමිකරු පිටුපස කතාව මෙන්න..!
Thu Mar 29, 2018 4:11 pm by AjithR

» Banking Sector Outlook-
Thu Mar 29, 2018 1:38 pm by SAFEER

»  EAP එකට සිංගප්පූරුවෙන් ඩොලර් මිලියන 75ක්
Wed Mar 28, 2018 6:19 am by spw19721

» APLA.N0000 (ACL PLASTICS PLC)
Tue Mar 27, 2018 9:53 am by yellow knife

» “ ඔසු උයන ” at Kahathuduwa, Piliyandala
Sun Mar 25, 2018 10:57 pm by AjithR

» Dutch Court Rules That Bitcoin Has “Properties of Wealth”
Sat Mar 24, 2018 7:41 pm by sashimaal

» REXP.N0000 ( RICHARD PIERIS EXPORTS PLC)
Sat Mar 24, 2018 11:42 am by Future123

» Honey trap for SL politico's
Wed Mar 21, 2018 11:30 am by Ethical Trader

April 2018
SunMonTueWedThuFriSat
1234567
891011121314
15161718192021
22232425262728
2930     

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

Go down

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

Post by sashimaal on Wed Feb 08, 2017 11:17 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 : 5579
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 7:23 am

Welcome the Ethiopian Development Model...

( Pictures save words )























yellow knife
Top contributor
Top contributor

Posts : 5761
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 8:00 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 : 5579
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 8:26 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 : 5761
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 8:46 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 : 5579
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 9:57 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 : 7174
Join date : 2014-02-23
Age : 60
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 10:39 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 2:52 pm

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 : 5579
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 6:14 pm

Thanks, dear Sashi

lanka

Posts : 341
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 10:54 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

Back to top


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