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Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyToday at 12:10 pm by puliyanam

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Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyToday at 11:16 am by nihal123

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Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyYesterday at 8:10 pm by Rana

» Thread for News on CSE and SL Economy
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyYesterday at 3:53 pm by Backstage

» නොතේරෙන කමට කරපු මෝඩ වැඩේ....
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptySun Feb 23, 2020 8:41 pm by Backstage

» රාගම බ්‍රවුන්ස් රෝහල ඉෂාරගෙන් හැරීට. රු. බිලියන 1.6 ක ගනුදෙනුවක්
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyFri Feb 21, 2020 8:53 pm by nihal123

» SAMP.N0000 (Sampath Bank PLC)
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyThu Feb 20, 2020 6:47 pm by NIRMALSG

» Huge transactions expected to boost CSE in near future’
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyThu Feb 20, 2020 12:45 pm by Backstage

» මිනිරන්වලට දසදහස් ගුණයක වටිනාකමක් ගෙන දෙන ඉෂාර නානායක්කාරගේ නවතම මෙහෙයුම
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyThu Feb 20, 2020 9:57 am by nuwanmja

» Happy Birthday
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyThu Feb 20, 2020 9:21 am by nuwanmja

» Thought for the day...
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyThu Feb 20, 2020 12:01 am by sashimaal

» Gota's Era
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyWed Feb 19, 2020 1:04 pm by කිත්සිරි ද සිල්වා

» හොදට තිබුණ රටක්
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyWed Feb 19, 2020 9:46 am by කිත්සිරි ද සිල්වා

» In the Meantime, Within Our Shores !
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyMon Feb 17, 2020 12:40 pm by කිත්සිරි ද සිල්වා

» How does the stock market work?
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyMon Feb 17, 2020 11:07 am by කිත්සිරි ද සිල්වා

» An ex-businessman, now bankrupt,
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptySun Feb 16, 2020 9:24 pm by Backstage

» Oil, Gold & Silver Prices
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyThu Feb 13, 2020 1:50 pm by කිත්සිරි ද සිල්වා

» ආර්ථික වර්ධන වේගය – දකුණු ආසියාවේ රටවල් 8කින් ශ්‍රී ලංකාව 6 වැනි තැනට
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyWed Feb 12, 2020 11:47 pm by nihal123

» LOLC Holdings
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyWed Feb 12, 2020 6:19 pm by NIRMALSG

» චීනය කොරෝනා මරණ සංඛ්‍යාව ගැන සැබෑ තතු සඟවන බවට තොරතුරු හෙළිවේ
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyThu Feb 06, 2020 8:33 pm by nihal123

» VPEL.N0000 (Vallibel Power Erathna PLC)
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyThu Feb 06, 2020 11:29 am by කිත්සිරි ද සිල්වා

» Obituary Notice.
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyThu Feb 06, 2020 10:47 am by කිත්සිරි ද සිල්වා

» IOC පිරවුම්හල් හිමියන් පාරට බසී. මිල සමාන කරන්නැයි ඉල්ලයි
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyThu Feb 06, 2020 10:37 am by කිත්සිරි ද සිල්වා

» කොරෝනා වෛරසය හමුවේ ලෝක වෙළෙඳපොළේ තෙල් මිල සීඝ්‍රයෙන් පහළට
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyWed Feb 05, 2020 11:15 am by nihal123

» 2013 දී ශ්‍රී ලංකන් ගුවන් සේවයේ ඉහළ නිලධාරී බිරිඳකට ඩොලර් මිලියන 2ක අල්ලසක්
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyTue Feb 04, 2020 12:53 pm by කිත්සිරි ද සිල්වා

» නව කොරෝනා වෛරසයේ ආර්ථික බලපෑම්
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyMon Feb 03, 2020 11:16 pm by nihal123

» චීනයේ හුනාන් පළාතේ තවත් වයිරසයක් පැතිරයන බවට අනතුරු ඇඟවීමක්
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyMon Feb 03, 2020 9:15 pm by serene

» ද ෆිනෑන්ස්, අර්ථසාධක අරමුදලේ රු. මිලියන 205 ක් ගිලියි
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyMon Feb 03, 2020 12:29 pm by nihal123

» COMB.N0000 (Commercial Bank of Ceylon PLC)
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptySat Feb 01, 2020 6:16 am by serene

» BPPL Holdings Limited
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyFri Jan 31, 2020 8:41 pm by pathfinder

» මූල්‍ය සමාගම්වලින් භාගයක්ම දුවන්නේ අමාරුවෙන්
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyFri Jan 31, 2020 8:08 pm by nihal123

» EPF ආයෝජනයට සූදානම්
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyThu Jan 30, 2020 10:13 pm by nihal123

» Man’ who gave birth in Matara hospital says he doesn’t want his baby
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyThu Jan 30, 2020 6:57 pm by Backstage

» ප්‍රතිපත්ති පොලී අනුපාතය අඩු කෙරේ
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyThu Jan 30, 2020 10:54 am by nihal123

» Sri Lanka’s EPF bought shares with no approval, no analysis
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyThu Jan 30, 2020 9:35 am by nihal123

» කොරෝනා නිසා ගෝලීය සමාගම් රැසකට බිලියන ගණනක් පාඩුයි
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyWed Jan 29, 2020 10:33 pm by nihal123

» කොටස් වෙළෙඳපොළ සක්‍රීය වෙයි. දෛනික පිරිවැටුම රු. බිලියනය ඉක්මවයි. සියලු කොටස් ඒකක 51කින් ඉහළට
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyWed Jan 29, 2020 10:20 pm by nihal123

» කොරොනා වෛරසයෙන් කොටස් වෙළෙඳපොළට දැඩි බලපෑම්
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyTue Jan 28, 2020 2:39 pm by lanka

» LIOC.N0000 (Lanka IOC PLC)
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyMon Jan 27, 2020 9:48 am by LSE

» බැඳුම්කර වංචාවේ වෝහාරික විගණන වාර්තාව පාර්ලිමේන්තුවට
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyFri Jan 24, 2020 7:05 am by nihal123

» අසාදුගත ව්‍යාපාරිකයින්ට රජයෙන් දුන් සහනය මෙන්න
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyFri Jan 24, 2020 6:37 am by nihal123

» සුරැකුම්පත් කොමිසමට නව සභාපතිවරයෙක්
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyWed Jan 22, 2020 10:20 am by lanka

» කොටස් තැරැව්කරුවෝ අගමැති මහින්ද හමුවෙති
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyMon Jan 20, 2020 9:29 pm by nihal123

» SEYB.N0000 (Seylan Bank PLC)
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptySun Jan 12, 2020 10:06 pm by subash

» ශ්‍රී ලංකා කොටස් වෙළෙඳපොළ ඉතිහාසයේ දෙවැනි විශාලතම කොටස් ගනුදෙනුව අද
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

» Browns Investments update
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyThu Jan 09, 2020 10:42 am by The Invisible

» Tokyo Cement
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyWed Jan 08, 2020 10:48 pm by The Invisible

» Lanka Tiles
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyWed Jan 08, 2020 10:44 pm by The Invisible

» RCL - Royal Ceramics
Sri Lanka can resume high growth path, cut more taxes: Mark Mobius EmptyWed Jan 08, 2020 10:39 pm by The Invisible

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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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