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Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyTue Jan 14, 2020 4:14 pm by ipo

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» SEYB.N0000 (Seylan Bank PLC)
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» In the Meantime, Within Our Shores !
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptySun Jan 12, 2020 10:46 am by කිත්සිරි ද සිල්වා

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Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyFri Jan 10, 2020 9:42 am by කිත්සිරි ද සිල්වා

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Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyThu Jan 09, 2020 9:59 pm by nihal123

» Hayleys MGT
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyThu Jan 09, 2020 5:40 pm by subash

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» Sri Lanka central bank to develop a cost-based rate to price loans
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» Cartoon Today
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Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptySat Jan 04, 2020 7:36 pm by spw19721

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» VAT අදාළ නැති කට්ටිය මෙන්න. 50,000 ක ලැයිස්තුවක්
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyFri Jan 03, 2020 11:55 am by nihal123

» How to get Access to: 104 Technical trading experiments by HUNTER
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyThu Jan 02, 2020 9:20 am by Admin

» ලංකාවේ ලොකුම සමාගම මෙන්න. දුම්කොළ සමාගම අභිබවමින් ජෝන් කීල්ස් යළිත් පෙරමුණට
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyWed Jan 01, 2020 7:48 pm by Rana

» Thread for News on CSE and SL Economy
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» Sri Lanka’s LOLC Prepares to Sell Its Biggest Overseas Unit
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» Sri Lanka’s Cargills, Sampath, DFCC Bank says met lending rate ceilings
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» Dividend Announcement
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» Sri Lanka bank bad loans spike to 4.9-pct, non-banks 9.7-pct in Sept
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyWed Jan 01, 2020 9:29 am by The Invisible

» People’s Bank, Sampath, and DFCC face penalties
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» NDB.N0000 (National Development Bank PLC)
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» COMB.N0000 (Commercial Bank of Ceylon PLC)
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyThu Dec 26, 2019 9:23 pm by spw19721

» Thought for the day...
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyThu Dec 26, 2019 3:41 pm by Topcat

» ඩොක්ටර් ඒලියන්ත වයිට්
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» Why (Happy) People Cheat?
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyWed Dec 25, 2019 8:34 pm by pjrngroup

» Who killed Cock Robin?
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» 65 Ways to Make Money Online
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» සුළු හා මධ්‍ය පරිමාණ ව්‍යාපාරිකයින් ලබාගත් ණය අයකර ගැනීම අත්හිටුවන්න
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyTue Dec 24, 2019 8:50 am by Topcat

» ACL Cables
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptySat Dec 21, 2019 5:34 am by NIRMALSG

» Sri Lanka to up employer EPF contribution to 15-pct, start social security fund
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyWed Dec 18, 2019 2:46 pm by The Invisible

» රාජ්‍ය සමාගම් කොටස් වෙළෙඳපොළට ගෙන ආ යුතුයි
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyFri Dec 13, 2019 12:37 pm by serene

» Sri Lanka can resume high growth path, cut more taxes: Mark Mobius
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyThu Dec 12, 2019 9:29 am by The Alchemist

» රතු වැටෙනකොට
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyWed Dec 11, 2019 2:59 pm by කිත්සිරි ද සිල්වා

» Sri Lanka interest rates should go down, currency will not fall: Mark Mobius
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyWed Dec 11, 2019 11:18 am by The Invisible

» Equation of Happiness Solved
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyTue Dec 10, 2019 5:23 pm by Backstage

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Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyTue Dec 10, 2019 12:31 pm by Rana

» PABC.N0000 (Pan Asia Banking Corporation PLC)
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyMon Dec 09, 2019 6:41 pm by soileconomy

» East West properties
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» MHDL Millennium Housing
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Sri Lanka can resume high growth path, cut more taxes: Mark Mobius

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Sri Lanka can resume high growth path, cut more taxes: Mark Mobius Empty Sri Lanka can resume high growth path, cut more taxes: Mark Mobius

Post by The Invisible on Wed Dec 11, 2019 11:02 am



ECONOMYNEXT – Sri Lanka can resume a high growth seen before a recent slowdown with the right policies, and more taxes should be cut, emerging markets investor Mark Mobius said after the island halved sales tax from 15 to 08 percent and reduced personal income tax.

“I think they should cut the taxes more,” Mobius said at a business forum in Colombo, organized by Cinnamon Life, a real estate development promoted by Sri Lanka’s John Keells Holdings group.

“At the end of the day you need growth. The only way the government can raise more taxes is if the economy grows. And you cannot grow an economy if people are burdened with high taxes in the beginning.

“It is important at this stage to lower taxes and make them easier to pay.”

Sri Lanka’s newly elected government cut personal income tax to 18 percent, and reduced the highest marginal rate from 24 percent to 18 percent.

The last administration, apparently at the behest of a young International Monetary Fund team raised the higher marginal income tax rate from 16 percent, which had been brought down to improve compliance.

The IMF also advocated so-called ‘revenue based fiscal consolidation’, implying that keeping down deficits by cutting state spending was not correct.

There were also claims that a low tax to GDP ratio was somehow bad, and that there was some virtue in high revenue to GDP ratios rather than a smaller deficit that would reduce the accumulation of new debt, defying classical (and neo) liberal economic principles.

However from December, Sri Lanka also halved value added tax, which is a sales tax, causing concern among rating agencies and other analysts given the tendency of Sri Lanka’s soft-pegged central bank to print money to keep rates down and generate balance of payments trouble when deficits go up.

Mobius said he was not a fan of the ‘Laffer Curve’, but believed it had some relevance.



See Also


Sri Lanka invites more investments, tourists from China



Sri Lanka interest rates should go down, currency will not fall: Mark Mobius



John Keells Holdings drags down Sri Lanka stocks



Sri Lanka tourist arrivals to recover by end of winter season: CB Deputy Governor



Sri Lanka bad loans expected to fall after tax cuts: HNB














The Laffer Curve named after Arthur Laffer an American, refers to a phenomenon where total income tax revenues tend to go up, when the marginal rate is below 70 percent. However it does not refer to sales taxes like VAT.

Sri Lanka had growth rates as high as 8 percent after the war but it had slowed during the last four years, it had slowed, Mobius said.

He said in 2010, 2011 and 2012 Sri Lanka had growth of around 8 percent, then there was a decline.

“I believe Sri Lanka can re-achieve that high 8 percent growth going forward,” Mobius said. “If the right policies are followed and economy is given the freedom to move ahead.”

You may also read:

Sri Lanka beats Burkina Faso in economic freedom, dropping 11 places

Sri Lanka heading for Sozialpolitik not a social market economy : Bellwether

What went wrong; Sri Lanka’s illiberal economics and unsound money : Bellwether

He said the economy should be de-regulated, digital technology should be made use of to make tax payments and government services easier to access for the people.

He said state enterprises like insurance firms, banks, airports, should be listed in the stock market to improve governance, drawn private capital and boost liquidity in the stock markets. (Colombo/Dec11/2019)
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Post by Backstage on Wed Dec 11, 2019 2:26 pm

Barely a week after the 2015 election Mobius turned up in Colombo and went to meet RW at Temple Trees. RW was rude and treated Mobius with barely concealed disdain. Mobius then went on to dispose of SL bonds in the following months. RW then went on to invite an even more dangerous character Soros , who fortunately or unfortunately did bugger all.
Mobius is back, he wants deregulation.
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Post by The Invisible on Wed Dec 11, 2019 8:06 pm

We know clearly what is the perception of RW and his favorites on the stock market. I believe everyone still remember that one of the deemed high caliber minister of RW government referred stock market to a casino. What development we could really expect from such a government. Hope the new one will not do the same mistake and crime to the country.
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Post by NIRMALSG on Thu Dec 12, 2019 5:07 am

Yes I also believe RWs government did not gave proper attention on Stock market. Hope this government give proper attention in to Stock market when making decisions regarding economy.
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Post by Lee Goh on Thu Dec 12, 2019 5:34 am

100% agree. Focus was increasing value of PT (Singapore penthouses) at the expense of investors & country.

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Post by The Alchemist on Thu Dec 12, 2019 9:29 am


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Post by The Alchemist on Thu Dec 12, 2019 9:29 am


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