The Investor Sentiment - Equity and investments forum for Sri Lankans
The Investor Sentiment - Equity and investments forum for Sri Lankans
Would you like to react to this message? Create an account in a few clicks or log in to continue.
Search
 
 

Display results as :
 


Rechercher Advanced Search

Latest topics
»  Rajgama Heroes !
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyYesterday at 12:06 pm by කිත්සිරි ද සිල්වා

» Coronavirus Updates
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyYesterday at 7:26 am by The Invisible

» Thread for News on CSE and SL Economy
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyYesterday at 7:17 am by The Invisible

» Access Engineering AEL Technical Analysis
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyYesterday at 7:14 am by The Invisible

» In the Meantime, Within Our Shores !
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyThu Jul 02, 2020 10:35 pm by කිත්සිරි ද සිල්වා

» Obituary Notice.
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyWed Jul 01, 2020 12:51 pm by කිත්සිරි ද සිල්වා

»  6000 Post Club , Celebration of a Great Milestone, Slstock
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyTue Jun 30, 2020 9:35 am by slstock

» LIOC.N0000 (Lanka IOC PLC)
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyTue Jun 30, 2020 8:00 am by LSE

» How to get Access to: 104 Technical trading experiments by HUNTER
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyMon Jun 29, 2020 9:35 am by nuwanmja

» Sri Lanka to monetize tens of billions of contractor bills
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptySun Jun 28, 2020 10:30 am by The Invisible

» 104 Technical trading experiments by HUNTER
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptySat Jun 27, 2020 10:27 pm by HUNTER

» CFVF - First Capital
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptySat Jun 27, 2020 10:22 pm by HUNTER

» RCL - Royal Ceramics
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptySat Jun 27, 2020 4:02 am by desh87

» Stocks - Banks Drag Wall Street Lower After Fed Buyback Ban; Dow Down 290
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyFri Jun 26, 2020 11:35 pm by nihal123

» Sri Lanka plans US$4bn PPP for LRT in place of Japan funded soft-loan project
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyThu Jun 25, 2020 8:57 pm by The Invisible

» PABC.N0000 (Pan Asia Banking Corporation PLC)
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyWed Jun 24, 2020 10:37 pm by seek

» JKH.N0000
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyWed Jun 24, 2020 9:33 pm by The Invisible

» Plantation sector updates
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyWed Jun 24, 2020 10:32 am by The Invisible

» Dividend Announcements
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyTue Jun 23, 2020 4:00 pm by Rana

» LOLC Holdings
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyMon Jun 22, 2020 3:40 pm by Rajapaksap

» Sri Lanka bank bad loans in March 2020 pick up to 5.1-pct
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyMon Jun 22, 2020 12:50 pm by The Invisible

» The Central Bank of Sri Lanka Further Reduces the Statutory Reserve Ratio
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyMon Jun 22, 2020 11:53 am by nihal123

» Sri Lanka tea prices pickup marginally mid June
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptySun Jun 21, 2020 8:11 pm by The Invisible

» කොළඹ කොටස් වෙළඳපොළ ඩිජිටල්කරණය කිරීමේ වැඩපිළිවෙල ඇරඹෙයි
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptySun Jun 21, 2020 12:55 pm by HUNTER

» Sri Lankans stock up, buy online in Covid-19 curfews, informal workers hard-hit: survey
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptySun Jun 21, 2020 9:34 am by The Invisible

» Sri Lanka chicken supplies to tighten after Covid-19 crisis, maize import controls
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptySun Jun 21, 2020 9:32 am by The Invisible

» S&P SL20 සමාගම් ලැයිස්තුවේ වෙනසක්.
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptySat Jun 20, 2020 7:56 am by slstock

» HNB රුපියල් බිලියන 5ක ණය යෝජනා ක‍්‍රමයක් දියත් කරයි
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyFri Jun 19, 2020 10:47 pm by nihal123

» SAMP.N0000 (Sampath Bank PLC)
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyFri Jun 19, 2020 1:08 pm by dakzsl

» HAYC - Haycarb
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyFri Jun 19, 2020 12:04 pm by Rational Investor

» විශාලම ලැයිස්තුගත සමාගම් 50 විනිවිදභාවය පිළිබඳ වාර්තාවක් එළිදැක්වෙයි
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyThu Jun 18, 2020 11:13 pm by nihal123

» HAYL.N0000 Hayleys PLC
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyThu Jun 18, 2020 7:53 pm by NIRMALSG

» GLAS.N0000 (Piramal Glass Ceylon PLC)
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyWed Jun 17, 2020 12:29 pm by nuwanmja

» Sri Lanka bank forex funding pressures, bad loans to rise after Covid-19: Fitch
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyWed Jun 17, 2020 10:43 am by The Invisible

» Sri Lanka telecom regulator asked find businesses to use Lotus Tower
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyWed Jun 17, 2020 10:33 am by The Invisible

» Gota's Era
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyTue Jun 16, 2020 2:40 pm by puliyanam

» Fitch Revises Ratings on 11 Sri Lankan Financial
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptySat Jun 13, 2020 11:58 am by spw19721

» Carlton Sports Network to resume broadcasts soon – Rohan Welivita
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyFri Jun 12, 2020 11:27 am by Rajapaksap

» සල්ලි අච්චු ගැසුවාද?
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyWed Jun 10, 2020 11:35 pm by nihal123

» වටිනා පාඩමක්!
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyWed Jun 10, 2020 9:58 pm by Backstage

» Sri Lanka’s General Election on August 05
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyWed Jun 10, 2020 3:08 pm by The Invisible

» Hayleys MGT
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyTue Jun 09, 2020 11:16 am by The Invisible

» AEL Access Engineering
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyTue Jun 09, 2020 11:08 am by The Invisible

» Sri Lanka import controls, cargo bottleneck hit apparel exporters
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyMon Jun 08, 2020 4:12 pm by The Invisible

» Sri Lanka tea prices ease lower, low growns drive May average to all time high
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyMon Jun 08, 2020 8:47 am by slstock

» Sri Lanka plans to allow tourists from August, no mandatory quarantine
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptySat Jun 06, 2020 3:05 pm by Antonym

» Sri Lanka makes trillion rupee mini-budget till August under Presidential powers
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyFri Jun 05, 2020 10:48 am by The Invisible

» HHL.N0000 ( Hemas Holdings PLC)
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyThu Jun 04, 2020 4:32 pm by Backstage

» LION.N0000 (Lion Brewery Ceylon PLC)
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyThu Jun 04, 2020 2:21 pm by The Invisible

» කොටස්--වෙළෙඳපොළ--වැසුවාද
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyWed Jun 03, 2020 9:49 pm by nihal123

July 2020
SunMonTueWedThuFriSat
   1234
567891011
12131415161718
19202122232425
262728293031 

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

Go down

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)
The Invisible
The Invisible

Posts : 2352
Join date : 2016-11-28
Age : 40

Back to top Go down

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

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.
Backstage
Backstage
Top contributor
Top contributor

Posts : 3762
Join date : 2014-02-24

Back to top Go down

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

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.
The Invisible
The Invisible

Posts : 2352
Join date : 2016-11-28
Age : 40

Back to top Go down

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

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.
NIRMALSG
NIRMALSG

Posts : 348
Join date : 2019-02-17
Location : Colombo

Back to top Go down

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

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.

Lee Goh

Posts : 9
Join date : 2019-11-26

Back to top Go down

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

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


The Alchemist
Top contributor
Top contributor

Posts : 632
Join date : 2014-02-25

Back to top Go down

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

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


The Alchemist
Top contributor
Top contributor

Posts : 632
Join date : 2014-02-25

Back to top Go down

Back to top


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