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The Investor Sentiment - Equity and investments forum for Sri Lankans

The Lankan Investor Forum - A more respectable and reasonable place for members to discuss matters regarding the CSEThe Lankan Investor Forum - A more respectable and reasonable place for members to discuss matters regarding the CSE

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Latest topics

» CCS.N0000 ( Ceylon Cold Stores)
WHT on FD interest - 2.5% deducted EmptyWed Mar 20, 2024 11:31 am by Hawk Eye

» Sri Lanka plans to allow tourists from August, no mandatory quarantine
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» When Will It Be Safe To Invest In The Stock Market Again?
WHT on FD interest - 2.5% deducted EmptyWed Apr 19, 2023 6:41 am by කිත්සිරි ද සිල්වා

» Dividend Announcements
WHT on FD interest - 2.5% deducted EmptyWed Apr 12, 2023 5:41 pm by කිත්සිරි ද සිල්වා

» MAINTENANCE NOTICE / නඩත්තු දැනුම්දීම
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» ඩොලර් මිලියනයක මුදල් සම්මානයක් සහ “ෆීල්ඩ්ස් පදක්කම” පිළිගැනීම ප්‍රතික්ෂේප කළ ගණිතඥයා
WHT on FD interest - 2.5% deducted EmptySun Apr 02, 2023 7:28 am by කිත්සිරි ද සිල්වා

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WHT on FD interest - 2.5% deducted EmptyThu Mar 30, 2023 9:25 am by yellow knife

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» In the Meantime Within Our Shores!
WHT on FD interest - 2.5% deducted EmptyMon Mar 27, 2023 5:51 pm by කිත්සිරි ද සිල්වා

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WHT on FD interest - 2.5% deducted EmptyFri Mar 24, 2023 10:09 am by කිත්සිරි ද සිල්වා

» SRI LANKA TELECOM PLC (SLTL.N0000)
WHT on FD interest - 2.5% deducted EmptyMon Mar 20, 2023 5:18 pm by කිත්සිරි ද සිල්වා

» THE LANKA HOSPITALS CORPORATION PLC (LHCL.N0000)
WHT on FD interest - 2.5% deducted EmptyMon Mar 20, 2023 5:10 pm by කිත්සිරි ද සිල්වා

» Equinox ( වසන්ත විෂුවය ) !
WHT on FD interest - 2.5% deducted EmptyMon Mar 20, 2023 4:28 pm by කිත්සිරි ද සිල්වා

» COMB.N0000 (Commercial Bank of Ceylon PLC)
WHT on FD interest - 2.5% deducted EmptySun Mar 19, 2023 4:11 pm by කිත්සිරි ද සිල්වා

» REXP.N0000 (Richard Pieris Exports PLC)
WHT on FD interest - 2.5% deducted EmptySun Mar 19, 2023 4:02 pm by කිත්සිරි ද සිල්වා

» RICH.N0000 (Richard Pieris and Company PLC)
WHT on FD interest - 2.5% deducted EmptySun Mar 19, 2023 3:53 pm by කිත්සිරි ද සිල්වා

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» GLAS.N0000 (Piramal Glass Ceylon PLC)
WHT on FD interest - 2.5% deducted EmptyWed Mar 15, 2023 7:45 am by කිත්සිරි ද සිල්වා

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WHT on FD interest - 2.5% deducted EmptyTue Mar 14, 2023 5:32 pm by කිත්සිරි ද සිල්වා

» AHPL.N0000
WHT on FD interest - 2.5% deducted EmptySun Mar 12, 2023 4:46 pm by කිත්සිරි ද සිල්වා

» TJL.N0000 (Tee Jey Lanka PLC.)
WHT on FD interest - 2.5% deducted EmptySun Mar 12, 2023 4:43 pm by කිත්සිරි ද සිල්වා

» CTBL.N0000 ( CEYLON TEA BROKERS PLC)
WHT on FD interest - 2.5% deducted EmptySun Mar 12, 2023 4:41 pm by කිත්සිරි ද සිල්වා

» COMMERCIAL DEVELOPMENT COMPANY PLC (COMD. N.0000))
WHT on FD interest - 2.5% deducted EmptyFri Mar 10, 2023 4:43 pm by yellow knife

» Bitcoin and Cryptocurrency
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» CSD.N0000 (Seylan Developments PLC)
WHT on FD interest - 2.5% deducted EmptyFri Mar 10, 2023 10:38 am by yellow knife

» PLC.N0000 (People's Leasing and Finance PLC)
WHT on FD interest - 2.5% deducted EmptyThu Mar 09, 2023 8:02 am by කිත්සිරි ද සිල්වා

» Bakery Products ?
WHT on FD interest - 2.5% deducted EmptyWed Mar 08, 2023 5:30 pm by කිත්සිරි ද සිල්වා

» NTB.N0000 (Nations Trust Bank PLC)
WHT on FD interest - 2.5% deducted EmptySun Mar 05, 2023 7:24 am by කිත්සිරි ද සිල්වා

» Going South
WHT on FD interest - 2.5% deducted EmptySat Mar 04, 2023 10:47 am by කිත්සිරි ද සිල්වා

» When Seagulls Follow the Trawler
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» Re-activating
WHT on FD interest - 2.5% deducted EmptySat Feb 25, 2023 5:12 pm by කිත්සිරි ද සිල්වා

» අපි තමයි හොඳටම කරේ !
WHT on FD interest - 2.5% deducted EmptyTue Feb 14, 2023 3:54 pm by ruwan326

» මේ අර් බුධය කිසිසේත්ම මා විසින් නිර්මාණය කල එකක් නොවේ
WHT on FD interest - 2.5% deducted EmptyTue Jan 03, 2023 6:43 pm by ruwan326

» SAMP.N0000 (Sampath Bank PLC)
WHT on FD interest - 2.5% deducted EmptyWed Nov 30, 2022 8:24 am by කිත්සිරි ද සිල්වා

» APLA.N0000 (ACL Plastics PLC)
WHT on FD interest - 2.5% deducted EmptyFri Nov 18, 2022 7:49 am by කිත්සිරි ද සිල්වා

» AVOID FALLING INTO ALLURING WEEKEND FAMILY PACKAGES.
WHT on FD interest - 2.5% deducted EmptyWed Nov 16, 2022 9:28 pm by කිත්සිරි ද සිල්වා

» Banks, Finance & Insurance Sector Chart
WHT on FD interest - 2.5% deducted EmptyTue Nov 15, 2022 5:26 pm by කිත්සිරි ද සිල්වා

» VPEL.N0000 (Vallibel Power Erathna PLC)
WHT on FD interest - 2.5% deducted EmptySun Nov 13, 2022 12:15 pm by කිත්සිරි ද සිල්වා

» DEADLY COCKTAIL OF ISLAND MENTALITY AND PARANOID PERSONALITY DISORDER MIX.
WHT on FD interest - 2.5% deducted EmptyMon Nov 07, 2022 6:36 pm by කිත්සිරි ද සිල්වා

» WATA - Watawala
WHT on FD interest - 2.5% deducted EmptySat Nov 05, 2022 8:44 am by කිත්සිරි ද සිල්වා

» KFP.N0000(Keels Food Products PLC)
WHT on FD interest - 2.5% deducted EmptySat Nov 05, 2022 8:42 am by කිත්සිරි ද සිල්වා

» Capital Trust Broker in difficulty?
WHT on FD interest - 2.5% deducted EmptyFri Oct 21, 2022 5:25 pm by කිත්සිරි ද සිල්වා

» IS PIRATING INTELLECTUAL PROPERTY A BOON OR BANE?
WHT on FD interest - 2.5% deducted EmptyThu Oct 20, 2022 10:13 am by කිත්සිරි ද සිල්වා

» What Industry Would You Choose to Focus?
WHT on FD interest - 2.5% deducted EmptyTue Oct 11, 2022 6:39 pm by කිත්සිරි ද සිල්වා

» Should I Stick Around, or Should I Follow Others' Lead?
WHT on FD interest - 2.5% deducted EmptyTue Oct 11, 2022 9:07 am by කිත්සිරි ද සිල්වා

» DV-2024 Program: Online Registration
WHT on FD interest - 2.5% deducted EmptyThu Oct 06, 2022 11:26 am by කිත්සිරි ද සිල්වා

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jiggysaurus
Future123
6 posters

    WHT on FD interest - 2.5% deducted

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    Future123
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    WHT on FD interest - 2.5% deducted Empty WHT on FD interest - 2.5% deducted

    Post by Future123 Sun Apr 19, 2015 11:14 pm

    I received my monthly FD interests and the amount looked lesser than the usual amounts. I called my FD guys and found out that they have started deducting 2.5% from April 2015 irrespective of the amount you receive.

    It's unfair in my opinion as this was not communicated to me by the Finance companies and the banks. Since I regularly check and reconcile my FD interests I was able to spot this.

    The new WHT of 2.5% on interest income is re-introduced by the government due to the present financial crisis. I came to know from reliable sources that the IRD is under pressure to collect taxes even from non tax payers (who submit returns and has Taxable income less than 500,000/=.) One of my friends was asked to pay income tax recently though his taxable income is less than 500,000/=. The assessor has asked him to do this as a favour as the treasury is in a dilemma.

    I also heard that some old taxes like BTT and GST are likely to be reintroduced targeting small businesses. This was waived off years back for small businesses.

    Bit worried about corporate taxes. It also likely to be increased in the next budget from present 28%. The government is struggling to pay its commitments. They have paid only 5000/= increase to the government staff and balance 5000/= due in June.
    Further they have not started paying the minimum payment for rubber and paddy.
    Don't know how these things are possible.

    I feel the increase of 10,000/= for government staff salaries is a serious miscalculation. The government sector is unproductive and inefficient and does not contribute to the national economy significantly. They are in fact a big burden now for the treasury due to increased salaries.
    Eg: I went to a post office in Colombo for some parcel collection recently and the staff are very very rude and arrogant towards customers.

    I feel that middle class will be burdened with new form of taxes in the future.
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    jiggysaurus
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    WHT on FD interest - 2.5% deducted Empty Re: WHT on FD interest - 2.5% deducted

    Post by jiggysaurus Mon Apr 20, 2015 12:43 am

    Defa very good idea.

    Shoeshine boys who don't contribute anything to the country but sit and check and reconcile FD interest and then waste excessive time on forums should be very heavily taxed.

    I feel that shoeshine boys and girls should be burdened with a new shoeshine tax and this should start at 50%.
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    Future123
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    WHT on FD interest - 2.5% deducted Empty Re: WHT on FD interest - 2.5% deducted

    Post by Future123 Mon Apr 20, 2015 1:19 am

    jiggysaurus wrote:Defa very good idea.

    Shoeshine boys who don't contribute anything to the country but sit and check and reconcile FD interest and then waste excessive time on forums should be very heavily taxed.

    I feel that shoeshine boys and girls should be burdened with a new shoeshine tax and this should start at 50%.

    How can you say that I don't contribute anything to the country? I pay PAYE Tax.

    I also contribute my skills to the country.

    What I tried to say was when they impose new taxes they should at least make a public announcement through the media. This WHT was not in the mini budget proposal and came as a surprise.
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    dhanurrox


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    WHT on FD interest - 2.5% deducted Empty Re: WHT on FD interest - 2.5% deducted

    Post by dhanurrox Mon Apr 20, 2015 5:20 am

    5000 left on salary is a lie here and how can you make predictions on taxes like this.No one can do that.Did you predict the 50bps cut by CB last week.May be your 2.5% story is correct but others here are utter nonsence
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    doca


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    WHT on FD interest - 2.5% deducted Empty Re: WHT on FD interest - 2.5% deducted

    Post by doca Mon Apr 20, 2015 6:00 am

    why not this was communicated through Newspapers as i remember ,, datz gud for the people who r jst looking at FDs without any investments..
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    WHT on FD interest - 2.5% deducted Empty Re: WHT on FD interest - 2.5% deducted

    Post by First Guy Mon Apr 20, 2015 7:29 am

    Forget the media, it was discussed here.

    https://forum.lankaninvestor.com/t4773-new-single-withholding-tax-of-2-5?highlight=withholding+tax

    So you are getting 6.3375% instead of 6.5%

    Had you been paying the 8% tax and found that it's now 2.5% would you have complained?
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    balapas
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    WHT on FD interest - 2.5% deducted Empty Re: WHT on FD interest - 2.5% deducted

    Post by balapas Mon Apr 20, 2015 8:00 am

    Definitely Rs 10,000 increase was too much. In govt sector except for few no one does any work for the country or people.

    2.5% on interest is no big deal actually. I hear the 15% interest on FDs might end this year for senior citizens so hurry up if someone want to put FD's on parents name.

    If tax rates are increased and BTT etc will be introduced for smaller businesses etc is going to be a big slow down in businesses. Also share market will go downhill after announcing this in the budget. I hope you are wrong.

      Current date/time is Mon Jun 17, 2024 7:22 pm