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Oct 14, 2013 (LBO) - Sri Lanka is likely to extend tax breaks for newly listed company that is expiring at the end of the year, officials said.
In the last budget taxes for companies listing within 2013 was slashed for three years, provided it met minimum public float limits.
SEC chairman Nalaka Godahewa said a request has been made to extend the tax breaks.
He was speaking a forum to promote new listings organized by the Colombo Stock Exchange and SEC targeting selected companies.
Deputy director general Dhammika Perera said the SEC has asked for an extension of the tax holiday from the finance ministry and with reasons to justify the request.
This year only one equity listing took place but there has a been slew of new debt listings mostly driven by another tax break which lifted income tax on interest income.
http://www.lankabusinessonline.com/news/sri-lanka-may-extend-tax-breaks-for-new-stock-listings/851111920
In the last budget taxes for companies listing within 2013 was slashed for three years, provided it met minimum public float limits.
SEC chairman Nalaka Godahewa said a request has been made to extend the tax breaks.
He was speaking a forum to promote new listings organized by the Colombo Stock Exchange and SEC targeting selected companies.
Deputy director general Dhammika Perera said the SEC has asked for an extension of the tax holiday from the finance ministry and with reasons to justify the request.
This year only one equity listing took place but there has a been slew of new debt listings mostly driven by another tax break which lifted income tax on interest income.
http://www.lankabusinessonline.com/news/sri-lanka-may-extend-tax-breaks-for-new-stock-listings/851111920
