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Nov 08, 2012 (LBO) - Companies that list on the Colombo Stock Exchange will be given a 3-year tax holiday and listed bond interest will be freed from income tax among incentives given to capital markets President Mahinda Rajapaksa, said in a budget for 2013.
A presidential task force will be appointed to co-ordinate and implement a capital market development plan.
Listed debenture interest is now subject to a 10 percent withholding tax.
Stocks transactions will be freed from stamp duty.
Foreign employed persons and foreign resident Sri Lanka's will be allowed buy unit in mutual funds free of capital account controls.
Unit trust management firms (mutual fund managers) will be taxed at a lower 10 percent rate.
National Development Bank and DFCC Bank would be allowed to raise 250 million dollars in loans from abroad and the foreign exchange risk will be taken by the government, he said.
The banks will be able to give lower interest loans with the money, he said.
http://lbo.lk/fullstory.php?nid=1210661326
A presidential task force will be appointed to co-ordinate and implement a capital market development plan.
Listed debenture interest is now subject to a 10 percent withholding tax.
Stocks transactions will be freed from stamp duty.
Foreign employed persons and foreign resident Sri Lanka's will be allowed buy unit in mutual funds free of capital account controls.
Unit trust management firms (mutual fund managers) will be taxed at a lower 10 percent rate.
National Development Bank and DFCC Bank would be allowed to raise 250 million dollars in loans from abroad and the foreign exchange risk will be taken by the government, he said.
The banks will be able to give lower interest loans with the money, he said.
http://lbo.lk/fullstory.php?nid=1210661326
Last edited by sriranga on Thu Nov 08, 2012 4:54 pm; edited 1 time in total
Thankas Mr.President 
