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Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

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FINANCIAL CHRONICLE™

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» CIC Holdings Good Times Ahead
by ashan silva Yesterday at 11:00 am

» LANKA CREDIT AND BUSINESS FINANCE PLC (LCBF.N0000)
by K.R Yesterday at 8:51 am

» EPF Fund keep eye on low P/E Shares
by K.R Yesterday at 8:45 am

» SINS - the Tailwind effects of a crisis hit Economy
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» Ceylon cold stores
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» Asha securities Provide buy signal for CIC
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» LOLC FINANCE PLC (LOFC.N0000)
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» LankaLAW Forum : Sri Lanka’s #1 Discussion Platform for Legal Questions and Answers
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» FINANCE AND LEASING SECTOR
by ErangaDS Thu Mar 14, 2024 7:19 am

» Sri Lanka poised to benefit from demand surge for ‘non-China origin’ graphite
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» LOLC hotels
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» CIC HOLDINGS PLC (CIC.N0000)
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» WAPO 200% UP
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» UNION ASSURANCE PLC (UAL.N0000)
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» Will CEYLON TOBACCO COMPANY PLC (CTC.N0000) delist from the CSE?
by rajithasahan Mon Mar 04, 2024 10:40 am

» EXPO.N - Expo Lanka Holdings De-Listing
by smallinvestor Fri Mar 01, 2024 4:50 pm

» ලොව වැඩිම පොලී ගෙවන රට බවට ශ්‍රි ලංකාව පත් වෙයි
by Beyondsenses Fri Mar 01, 2024 3:43 pm

» Suspension of Parate Execution: Impact to Banking Sector Shares
by God Father Fri Mar 01, 2024 7:15 am

» TAFL is the most undervalued & highly potential counter in the Poultry Sector
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» Excellent Report pending From CTC (Keep eye on CTC )
by ddrperera Thu Feb 29, 2024 7:11 pm

» Investor Alert: Sri Lanka Stock Brokering Mafia Strongly Active!
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Global announcement&Announcement & Sticky [0]

20240229
EXPERT CHRONICLE™ Scree196

Colombo Stock Market ready for another down trend ahead of 31st March 2024 quarterly results which is expected to be adversely affected by the escalation of Value Added Tax (VAT)  Rate to 18% with effect from 1st January 2024.

In an attempt to raise government revenue, the VAT rate on applicable goods and services increased from 15% to 18% starting 01st January 2024. This amendment brought 97 previously VAT-exempt goods and services including, fuel, gas, telecommunication services,...

by DeepFreakingValue - Comments: 3 - Views: 1158
20240313
EXPERT CHRONICLE™ Image_a9fe54594c

 
  • IPS research show SL stands to benefit from global trend towards electric vehicles 
  • SL’s commitment to sustainability and quality standards places it strategically in the non-China graphite export market


 
Sri Lanka, renowned...

by samaritan - Comments: 0 - Views: 203
20230518
EXPERT CHRONICLE™ Scree331

How many more companies will delist from the CSE and/or pull out of Sri Lanka after Sri Lanka Presidents statement to close down the Colombo Stock Market?
- Nestle Lanka PLC to be delisted
- Good Hope PLC. Indo Malay PLC, Selising and Shalimar PLC to be delisted
- Who is next? CEYLON TOBACCO COMPANY PLC (CTC.N0000)? (CTC Latest Shareholdings given above)

Sri Lanka's President warns of stock market closure if debt restructuring leads to crash

by God Father - Comments: 3 - Views: 2482
20240301
Parent Company - SG Holdings to purchase at a price of 185 per share.

by thankrishan - Comments: 1 - Views: 650
20240301
EXPERT CHRONICLE™ Centra12

- Increase in Non Performing Loans
- Decrease in Banks Profitability
- Lower lending due to high credit risk
- Banks to face Liquidity/stability Issues
- Loss of Investor Confidence


Sri Lanka's banking sector is on the edge after being forced to follow the government's decision to suspend parate execution rights. This move, seen as caving to pressure from debt evaders' intense lobbying, is raising concerns about the sector's ability to support economic...

by God Father - Comments: 0 - Views: 598
20240228
EXPERT CHRONICLE™ Screen70

- Buy High and Sell Low.
- Margin Interest always higher than profits
- Force sold without informing.
- Always Good time to buy, but bad time to sell.


Stock market 'mafia' controls the market

Good governance activist K.C. Vignarajah, now a valiant crusader to save the country's share market from the grips of manipulators, says the Colombo bourse has a long way to...

by ChooBoy - Comments: 1 - Views: 683
20240227
EXPERT CHRONICLE™ Online10

The Online Safety Act, No. 9 of 2024, as outlined in the provided context, includes several key aspects:

Establishment of the Online Safety Commission:
A Commission called the Online Safety Commission will be established, which will be a body corporate with perpetual succession and a common seal, capable of suing and being sued.

The Commission will have various powers and functions, including issuing directives, notices, and obtaining police assistance...

by God Father - Comments: 0 - Views: 159
20240215
EXPERT CHRONICLE™ 6302_w10

Artificial Intelligence (AI) Response

Based on the information provided, here are some strategies that could potentially be used to defeat Ranil Wickramasinghe at the next presidential elections:

1. Build a strong opposition coalition: Bring together different political parties and factions that are opposed to Wickramasinghe's leadership. This will help consolidate support and present a united front against him.

2. Highlight economic issues:...

by God Father - Comments: 3 - Views: 939
20240222
EXPERT CHRONICLE™ Scree195

The period between 2022 and 2024 for the Colombo Stock Exchange was characterized by resilience in the face of global and domestic challenges. While volatility was a significant factor, the market also showed signs of adaptability and potential for recovery. The performance of the CSE during these years underscores the importance of diversification, informed investment strategies, and the impact of external economic and geopolitical factors on emerging markets. Investors and stakeholders continue...

by DeepFreakingValue - Comments: 1 - Views: 453
20240221
EXPERT CHRONICLE™ Indust12

Richard Pieris Exports PLC one of the premier exporters of rubber products in Sri Lanka is facing serious loss of revenue and facing doubt about future survival due to following reasons.

- Loss of Competitiveness due to non adaptability.
- Internal financial mismanagment and lack of financing.
- Falling Revenues due to depreciation of USD earnings


World Rubber Prices on the decline


by God Father - Comments: 0 - Views: 405
20240106
EXPERT CHRONICLE™ 16570010

The Government of Sri Lanka is planning to lift the restriction on importation of motor vehicles shortly which was barred since 2020-23 during Covid 19 Pandemic followed by the economic crisis as a result of the foreign exchange shortage.

Investment Advise to Car Owners
Sri Lankan Rupee (LKR) has depreciated against the Japanese (JPY), India (INR) and Europe (EURO) during last 3 years representing the currencies of the largest exporters of used/new Motor vehicles...

by DeepFreakingValue - Comments: 7 - Views: 1779
20231117
EXPERT CHRONICLE™ Scree380

RED ALERT‼

 EXPERT CHRONICLE™ 1f6ab Richard Pieris and Company PLC (RICH) Consolidated Net Earnings for the 1H 2023 decline by massive 87% (YoY) to LKR 760mn from LKR 6.07bn in 1H2022.
 EXPERT CHRONICLE™ 1f6ab Dismal Performance...

by God Father - Comments: 4 - Views: 2079
20240102
EXPERT CHRONICLE™ Image_11

As per the agreement reached in January 2023, China Exim Bank agreed to give a 2 year extension for debt service due in 2022 and 2023 as an immediate contingency measure "based on Sri Lanka's request". As per this agreement, the  Government would be required start repaying the debt due in 2022 and 2023, from 2024 onwards, or to seek further extension from China Exim Bank.

This is likely to widen the external financing gap as per the IMF Programme Financing Plan for Sri Lanka and cause...

by Quibit - Comments: 2 - Views: 813
20240109
EXPERT CHRONICLE™ Img_1710

Majority of Sri Lankan Initial Public Offerings (IPO) have failed due to over pricing by the Financial Advisors and as a result many small investors have lost billons of rupees to scrupulous promoters and company owners. Its hight time regulators take a close look at to check the reasonableness of valuations before approving IPO’s.

by ChatGPT - Comments: 2 - Views: 994
20240207
EXPERT CHRONICLE™ Img_1810


The banking sector’s stability in 2022 and 2023 can be summarized with the following points:

2022 Stability Overview:

Despite challenges such as declining credit quality, liquidity pressures, low profitability, and deteriorating capital levels, the banking sector remained stable.

The sector maintained growth and broadly complied with prudential requirements.

Banks accounted for 61.9% of total financial sector assets at the...

by God Father - Comments: 0 - Views: 402
20240204
EXPERT CHRONICLE™ Img_1710

Chat2Find AI released the upgraded version of AI assistant with responsive voice that uses the Artificial Intelligence to respond to chat queries. Users can now listen to their chat queries by simply activating voice capability to Chat2Find AI in addition to responsive text messages that provides latest information. (Without any limitation like most AI platforms including ChatGPT). Chat2Find AI chat was launched in May 2023.

This new feature is expected to assist users of Chat2Find...

by God Father - Comments: 0 - Views: 365
20240131
EXPERT CHRONICLE™ Scree440

Jan 31, 2024, London Chat2find AI company engaged in conversation AI has released 3 key Artificially Intelligent (AI BOTS) services for Sri Lanka market specialised in taxation, law and business.

LankaTAX - AI Tax Advisor 

LankaTax is an  online Artificial Intelligent BOT provides tax advice to Sri Lankan taxpayers through artificial intelligence. It is designed to offer accurate answers to tax-related queries, backed by AI trained on extensive Sri Lanka...

by God Father - Comments: 0 - Views: 327
20240121
EXPERT CHRONICLE™ Scree431

All Sri Lanka Banking Sector Share Prices have crashed since September 2023 whilst Seylan Bank, DFCC Bank and Union Bank have lost more than 10% of its market capitalization. According to market analyst, Sri Lanka Banking Sector share prices are expected fall further.

Significant Loss of Shareholder Value

EXPERT CHRONICLE™ Scree434

Banking sector has lost more than LKR 23 billion...

by God Father - Comments: 2 - Views: 982
20231230
EXPERT CHRONICLE™ Scree414

The IMF programme envisaged a "haircut" of 60% of the amounts due to Bilateral and Private Creditors so that the foreign-law debt of $ 27,943 mn could be cut by 60% amounting to $ 16,921 mn. (see page 26 of IMF Report of 20th March 2023). https://www.imf.org/-/media/Files/Publications/CR/2023/English/1LKAEA2023001.ashx

However, bilateral creditors have not...

by God Father - Comments: 2 - Views: 2547
20240114
EXPERT CHRONICLE™ Image_16

Sri Lanka is in debt crisis and people are suffering without basic needs. Japan the so called debt mediator trying to extort $1.5bn reserves from Sri Lanka over LRT contract. Is this the Japanese gratitude to Sri Lanka for protecting Japan from the divisional conquer by the allied nations in 1954?

Sri Lanka declared bankruptcy in April 2022. As of September 2023, it had $35.1bn in foreign debt, of which 19 percent was owed to China, 7 percent to Japan, and 5 percent to India, according...

by God Father - Comments: 2 - Views: 659
20240117
EXPERT CHRONICLE™ Scree193
LIOC Performance in 31st March 2022

LIOC profits have fallen in 31st Dec 2023 to the level of 31st March 2022 and likely to fall further in 31st March 2024 according to industry analysis based on crude oil prices and domestic demand. It's time to exit LIOC.

https://cdn.cse.lk/cmt/upload_report_file/729_1651636803088.03.2022%20CSE.pdf

by DeepFreakingValue - Comments: 1 - Views: 995
20240109
EXPERT CHRONICLE™ Scree424

Cargills Bank reported an EPS of LKR 0.49 per share for the 9 months ended 30th Sep 2023 compared to LKR 0.12 per share in 2022 (More than 300% increase) ahead of Initial Public Offering (IPO) mainly due to capital gains from derecognition of financial assets and other operating Income.

https://cdn.cse.lk/cmt/upload_report_file/3118_1704772352765.pdf

Accounting...

by God Father - Comments: 1 - Views: 626
20231230
EXPERT CHRONICLE™ Scree415

Overall soundness of the banking sector as indicated by the BSI improved at end Q3 of 2023 compared to the corresponding period of the previous year. However, the index remained below 100 during the recent past, reflecting the challenging operating environment of the banking sector. Liquidity, market risk, capital adequacy, and profitability sub- indices improved at end Q3 of 2023 compared to Q3 of 2022, while asset quality and efficiency sub-indices deteriorated during the same period. Increasing...

by God Father - Comments: 1 - Views: 531
20240101
EXPERT CHRONICLE™ Price_10

Prices of many essential goods and services have been increased with effect from 1st January 2024 due to government decision to increase the Value Added Tax (VAT) to 18%. Some of the key price revisions are given below.

Fuel Price Increase
The Ceylon Petroleum Corporation (Ceypetco) announced that fuel prices will be revised with effect from 5.00 a.m. today (January 01).

Petrol 92 Octane: 346 to 366 (

by DeepFreakingValue - Comments: 0 - Views: 505
20231225
EXPERT CHRONICLE™ Aspi_p11

According to latest trend analysis, Colombo Stock Market All Share Price Index (ASPI) expected to trade between ASPI 10600-9400 during 2024.

Key Events - 2024
(1) Annual Reports/3Q Results (Feb/March/April)
(2) IMF 2nd Review/4Q Results (May/June)
(3) 1Q Results (July/August)
(4) 2Q Results (October/November)
(5) Elections (November/December)

Sri Lanka's cabinet approved a hike in Value Added Tax (VAT) up to 18% from the current 15% with effect...

by God Father - Comments: 11 - Views: 1631
20231229
EXPERT CHRONICLE™ 16988310

The Cabinet recently sanctioned an increase in the Value Added Tax (VAT) rate, is due to come into effect on January 1, 2024. This amendment will increase the rate from the present 15% to 18%, marking the highest level in two decades.

Increase of Value Added Taxes from 15% to 18% is expected to result in a sudden increase in retail prices with effect from 1st January 2024, when suppliers pass on VAT to consumers.

According to experts any increase in VAT will lead to higher...

by DeepFreakingValue - Comments: 0 - Views: 515
20231219

EXPERT CHRONICLE™ Scree399

EXPERT CHRONICLE™ Scree395

Sri Lanka Tourist Arrivals have recovered only 76.32% of 2019 (pre pandemic) levels and 62.6% of 2018 (pre Easter bombing) level in 2023. Sri Lanka target 3mn arrivals in 2024.

Sri Lanka's tourism sector has shown a remarkable recovery, with the Central Bank of Sri Lanka reporting a significant surge in earnings. In November 2023, the island nation's tourism revenue reached $205.3 million,...

by God Father - Comments: 1 - Views: 571
20231215
EXPERT CHRONICLE™ Scree391

Colombo Stock Market, All Share Price Index (ASPI) is currently heading downwards after reaching the peak of ASPI 11,724 on 8th August 2023. As can be seen from the above chart, Colombo Stock Market has taken a significant dive by shedding more than 1,000 points (10%) of its previous gains during the 2H2023. Market is currently fluctuating between ASPI 10,500-10,900 level since October 2023 whilst falling to ASPI 10,471 on 28th November 2023 lowest for 2H2023. Colombo Stock Market recorded...

by God Father - Comments: 1 - Views: 1202
20231219
EXPERT CHRONICLE™ Scree182

Movement of the All Share Price Index (ASPI) before and after the Sovereign Debt Default in April 2022 indicate that Colombo Stock Market is currently in the recovery phase despite current downward trend due to economic and political uncertainty. Colombo Stock Market next support is around ASPI 10,400 level and If misses that next resting point would be around ASPI 9,600.

by DeepFreakingValue - Comments: 0 - Views: 448
20231201
EXPERT CHRONICLE™ Img_1410

Colombo Stock Market ASPI is currently trading above 10,500
Stock Market offers many opportunities to Enter and Exit with Profits. Here is another opportunity in the offing above ASPI 10.500 for those who missed the opportunity to Exit @ ASPI 11,500. Take it or Leave it!

EXPERT CHRONICLE™ Img_1411

Stock Market is currently Hyped by unscruples traders to Exit by over emphasising the success of Debt Restructuring in the backdrop...

by God Father - Comments: 1 - Views: 723
20231205
EXPERT CHRONICLE™ Scree388

Sri Lanka Stock Market ready for the big fall below ASPI 10,400 according to stock market experts.

https://x.com/ChronicleLK/status/1732074531932557532?s=20

According to Market Experts:
ASI is searching for the direction. Bulls need a candle close above the falling wedge line (10798) to continue the momentum. Meanwhile RSI broken out early now showing...

by God Father - Comments: 2 - Views: 760
20231205
EXPERT CHRONICLE™ Scree181

🚫Turnaround expected in 2024/25.
🚫SHL is financially strong and solvent at company level despite issues at group level.

by DeepFreakingValue - Comments: 0 - Views: 644
20230811
EXPERT CHRONICLE™ Scree351

The economic downturn in 1Q 2023 hit badly the banking sector as the NPL ratio has elevated to 12.9% from the 4Q 2022 11.5%. The moratorium offered during the pandemic era ends n Jan 2023 and many sectors are still struggling which has put banks in trouble. According analysts Banking Sector NPL's are currently in excess of 18% and expected to rise to 40% if no action taken by the banks or Central Bank of Sri Lanka (CBSL) to restructure bad and irrecoverable debts and loans owed to small to medium...

by God Father - Comments: 4 - Views: 2366
20231127
EXPERT CHRONICLE™ Scree144

John Keells Holdings PLC (JKH) share price has failed to surpass LKR 200/= barrier during last 10 years despite its last attempt in September 2023. According to the 12-Year Price Chart, JKH share price continued to trade below the price of LKR 200/= per share  with the exceptions in year 2010 and 2013.

Current trading price of JKH is LKR 185/= per share whilst Average price during last 12 years is LKR 148/= (Based on 100 day moving average).

According to the current trend...

by Quibit - Comments: 1 - Views: 667
20231127
EXPERT CHRONICLE™ 1629192353722322-0

With the impending demutualisation of the Colombo Stock Exchange (CSE), three investors from Europe have expressed interest in a strategic stake in the entity after the demutualisation process.
The 15-member stockbroking firms have got a detailed report done with the help of the IFC on the demutualisation...

by samaritan - Comments: 0 - Views: 422
20231123
EXPERT CHRONICLE™ F_jcih10

Ajith Fernando, the second largest shareholder and founder of of Capital Alliance PLC (CALT) sold 21.69 million shares at LKR 60.10 per share to Capital Alliance Holdings Ltd at a value of LKR 1.3 Billion immediately after declaration of dividends. According to the disclosure Ajith Fernando is no longer a shareholder of Capital Alliance PLC.

EXPERT CHRONICLE™ Scree383

CALT Share Price Crash after Exit

by God Father - Comments: 1 - Views: 1218
20231125
EXPERT CHRONICLE™ Scree387

- Sovereign Default: Prior to the Debt Default (8th April 2022) ASPI was 8,135 and market crashed to ASPI 7513 on 25th April 2022 immediately after debt default.
- IMF Staff Approval: ASPI 10,102 (16th September 2022)
- IMF Board Approval: ASPI 9,699 (20th March 2023)
- DDO Approval by GOSL: Prior...

by DeepFreakingValue - Comments: 0 - Views: 498
20231118
EXPERT CHRONICLE™ Scree381

Above Table indicate % Loss of Banking Sector share value since end September 2023.  As predicted by market experts shares prices of all banks have fallen since September 2023. PABC Bank has lost 12.87% share value, closely followed by Seylan Bank with a loss of 11.20%. HNB Bank is the best loser with only 2.47% loss. Accordingly to market experts, the Banking sector share prices are likely to fall further during the remaining weeks of November and in the month of December due to current economic...

by God Father - Comments: 0 - Views: 453
20231003
EXPERT CHRONICLE™ Scree371

Stock Market offers many opportunities to Enter and Exit with Profits. Here is another opportunity in the offing. Take it or Leave it!

https://srilankaequity.forumotion.com/t63018-colombo-stock-market-opportunity-to-exit

by God Father - Comments: 2 - Views: 1619
20231106
EXPERT CHRONICLE™ Img_1211

Colombo Stock Exchange (CSE) expected to implement RSS and SBL (Short Selling) on 6th Nov '23. Will it initiate a negative trend which may eventually cause a major down trend and collapse of already depressed Colombo stock market by further 20%?

Empirical study by Harvard Law School Forum on Short Selling:

First, the punch line of the empirical study: activist short selling, which we call “negative activism,”...

by DeepFreakingValue - Comments: 2 - Views: 793
20231030
EXPERT CHRONICLE™ F9rt2b10

The Central Bank of Sri Lanka Governor Nandalal Weerasinghe is talking about Commendable Achievements! during his period.

Let's examine his achievements.

When the Governor Nandalal Weerasinghe came-

1. the country's growth rate was 3.4%. He brought it to -7.8%. It's still MINUS, and would be so, for the next several quarters.

2. Interest rates were 8%. Nandalal took it up to 28%, and has now brought it down to 18%.

3. Inflation...

by God Father - Comments: 2 - Views: 515
20231016
EXPERT CHRONICLE™ Scree175

- Downtrend has been identified and noticed in an around ASPI 11,500 levels due to deteriorating market and macro economic conditions.
- Stock Market was hyped by few individuals (HNWI) with vested interest which resulted in ASPI being pushed above 10,000 levels in July 2023. (‘DDO Hype’)
- Given the current economic conditions a strong down trend can be identified due to many factors.
- Higher consumption and lower productivity during Nov/Dec seasonal period is expected...

by DeepFreakingValue - Comments: 3 - Views: 1319
20231019
EXPERT CHRONICLE™ Image_11f63f4986

A corporation framework agreement worth US $ 1.565 billion was signed in Beijing on Tuesday by the Port City Economic Commission, China Harbour Engineering Company, Browns Investments and Hunan Construction Investment Group, for the phase two development of the Colombo Port City project.  This agreement encompasses the development of the Marina Project, Marina Hotel...

by samaritan - Comments: 0 - Views: 336
20231009
The Legend for the Next President of Sri Lanka
EXPERT CHRONICLE™ Img_1010

- Richest Person in Sri Lanka
- Successful Businessman
- Philanthropist and Academic
- Member of Parliament
- Honest and Candid Politician

We wish him all success at the next Presidential Election 2024.
https://www.dhammikaperera.lk

by DeepFreakingValue - Comments: 3 - Views: 1016
20231014
EXPERT CHRONICLE™ Scree174

Share prices of all major banks have fallen during the first half of October 2023. Even at this level the Banking Sector is highly inflated when considering the deep recession that Sri Lanka is experiencing. When the 2nd quarter results are out, the sector will crash beyond recognition. Investors are desperately trying to sell and exit, without triggering a major meltdown.

Banking Sector share values based on Net Asset Value (Adjusted) as given below indicate that shares are...

by DeepFreakingValue - Comments: 0 - Views: 519
20231005
“Program Risks” which are termed “exceptional” by the IMF staff themselves, will almost certainly materialize and negate the entire program.

EXPERT CHRONICLE™ Gb-imf10

The IMF Staff candidly acknowledge in their Report of March 2023 that the Risks of Sri Lanka’s Program are “exceptionally high”.  

This is how the Report highlights the risks (page 2).

“Program Risks:

“Risks to program...

by DeepFreakingValue - Comments: 1 - Views: 619
20231004
EXPERT CHRONICLE™ Scree372

When the policy rate falls, bank profits can decrease even if the net interest margin still increases.

The effect of policy rate cuts on bank lending and risk-taking depends on how the low interest rate environment affects banks’ ability to raise external financing. When interest rates are low, easing monetary policy relaxes banks’ external financing constraint less...

by God Father - Comments: 4 - Views: 847
20231005
EXPERT CHRONICLE™ 30692
L-R: Rohana Kumara Wanni Achchge (LOLC Regional Director, Africa), Justin Kagishiro (CEO), and Roshan Abeysinghe Gunawardena (DCEO).


FEATURED: LOLC Mauritius Holdings Ltd acquires Unguka Bank PLC in Rwanda


EXCERPTS FROM THE ARTICLE:


by samaritan - Comments: 0 - Views: 296
20231002
EXPERT CHRONICLE™ Scree366

As per the information collected through the Condominium Market Survey conducted by the Central Bank of Sri Lanka, transactions recorded in the primary condominium market remained at low levels during Q2, 2023. The Condominium Property Volume Index which measures the trend in number of new condominium sales, declined marginally by 1.3 per cent on a year-on-year basis. Meanwhile, new condominium prices in the Colombo district prevailed at high levels during the quarter, with a 10.5 per cent year-on-year...

by God Father - Comments: 0 - Views: 582
20231001
EXPERT CHRONICLE™ 2023-011

- Corporate Tax Impact on Earnings
Increased Tax implication expected to have full impact in September Quarter. GOSL expected to levy more taxes on banks as per IMF recent review. In this context taxes on Treasury Bill Gains are likely to be included in the budget.

Taxation of banks in Sri Lanka remains at a very high level totalling around 60% to 70% of its profits before tax, including the consumption taxes.


by DeepFreakingValue - Comments: 0 - Views: 405

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