We should Respond about CGT

We should Respond about CGT. 

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Guys please give your idea also. if we got good response. i will try send this into ministry level. or if i unable to do that. I will not support to UNP anymore.

I am not scared to CGT. if they wants to introduce. they has to use budget and thats all. no need everyday panic for members here.

Government get VAT, NBT, income TAX etc. from companies . Then when the same shares are traded on CSE we have to pay CDS fee+CSE fee+SEC fee+ Govt Cess+ brokerage. In addition when companies pay dividend government that is also taxed by withholding tax. After paying whole this if we still have a profit we have to pay another 10% from that.
Will foreign investors come to pay all these taxes to Sri lanka. Is there no other country to go them? Compare  to other markets  sri lanka is a tiny market. Also low liquidity. Because of this lots of foreign funds reluctant to come to Sri Lanka. After putting another tax will they come? Every day lots of foreign selling . After this tax will foreigners come here.  Even war time net foreign buying.  now net selling and outflow of money. After implementing CGT foreigners will rush to world trade center (CSE) to buy shares!!

Uba oka yawaddi kela wela iwarai bung. Ara Gonnu tika innkan apita market ekak nae

cseguide wrote:Government get VAT, NBT, income TAX etc. from companies . Then when the same shares are traded on CSE we have to pay CDS fee+CSE fee+SEC fee+ Govt Cess+ brokerage. In addition when companies pay dividend government that is also taxed by withholding tax. After paying whole this if we still have a profit we have to pay another 10% from that.
Will foreign investors come to pay all these taxes to Sri lanka. Is there no other country to go them? Compare  to other markets  sri lanka is a tiny market. Also low liquidity. Because of this lots of foreign funds reluctant to come to Sri Lanka. After putting another tax will they come? Every day lots of foreign selling . After this tax will foreigners come here.  Even war time net foreign buying.  now net selling and outflow of money. After implementing CGT foreigners will rush to world trade center (CSE) to buy shares!!

Yes .. this is too much. as investors we should oppose to those too many taxes.Otherwise foreign attraction will be a dream.

Someone should reach the political head to inform this very sooner....!

Actually if they boost the economy and tax 15,000 from 100,000 we earn , then it should not be a big issue because now we are at loss.

The problem here is the SIGNAL given at bad time.

As I always said , from the start of this government they emitted wrong signals to the investors, farmers, and to many others including the main community unbelievably very foolish manner.

So called 'one-time' super tax was the first killer signal.
They charged the best performers for their already taxed performances shattering development and dividend plans. How many investors and companies took it as Red and lost trust on the new rulers?

We can give a list of such red signals sent unnecessarily by various ministries specially in Finance sector including very foolish 'daylight white collar robbery' branded 12.5% bond saga.

These days they talk nothing but Taxes. Anybody can see their mentality and level of know-how about tax system and it creates red signal and havoc in others minds.

This CGT talk also will create harm to the income of the government than good and create problems in many places including in computer systems.

How can they programme to tax without considering our capital loss incurred during the period by all the stocks in many PF with different brokers?

cseguide wrote:Government get VAT, NBT, income TAX etc. from companies . Then when the same shares are traded on CSE we have to pay CDS fee+CSE fee+SEC fee+ Govt Cess+ brokerage. In addition when companies pay dividend government that is also taxed by withholding tax. After paying whole this if we still have a profit we have to pay another 10% from that.
Will foreign investors come to pay all these taxes to Sri lanka. Is there no other country to go them? Compare  to other markets  sri lanka is a tiny market. Also low liquidity. Because of this lots of foreign funds reluctant to come to Sri Lanka. After putting another tax will they come? Every day lots of foreign selling . After this tax will foreigners come here.  Even war time net foreign buying.  now net selling and outflow of money. After implementing CGT foreigners will rush to world trade center (CSE) to buy shares!!

100% agree and chinwi also correct. My question is what the hell this Stock Brokers Association is doing. Why they are keeping the blind eye. I remember how they used to approach the previous regime frequently when the stock market is not improving. I remember how Dilith and the rest campaign against TK to remove him. Where are all of these people now?

EquityChamp wrote:

cseguide wrote:Government get VAT, NBT, income TAX etc. from companies . Then when the same shares are traded on CSE we have to pay CDS fee+CSE fee+SEC fee+ Govt Cess+ brokerage. In addition when companies pay dividend government that is also taxed by withholding tax. After paying whole this if we still have a profit we have to pay another 10% from that.
Will foreign investors come to pay all these taxes to Sri lanka. Is there no other country to go them? Compare  to other markets  sri lanka is a tiny market. Also low liquidity. Because of this lots of foreign funds reluctant to come to Sri Lanka. After putting another tax will they come? Every day lots of foreign selling . After this tax will foreigners come here.  Even war time net foreign buying.  now net selling and outflow of money. After implementing CGT foreigners will rush to world trade center (CSE) to buy shares!!

100% agree and chinwi also correct. My question is what the hell this Stock Brokers Association is doing. Why they are keeping the blind eye. I remember how they used to approach the previous regime frequently when the stock market is not improving. I remember how Dilith and the rest campaign against TK to remove him. Where are all of these people now?

yes , exactly . some time I have a doubt that these politicians and rest doing these damages to  market purposely to hit the market bottom and grab stocks @ dirt cheap.

Chinwi wrote:Actually if they boost the economy and tax 15,000 from 100,000 we earn , then it should not be a big issue because now we are at loss.

The problem here is the SIGNAL given at bad time.

As I always said , from the start of this government they emitted wrong signals to the investors, farmers, and to many others including the main community  unbelievably  very foolish manner.  

So called 'one-time' super tax was the first killer signal.
They charged the best performers for their already taxed performances shattering development and dividend plans. How many investors and companies took it as Red and lost trust on the new rulers?

We can give a list of such red signals sent unnecessarily by various ministries specially in Finance sector including very foolish 'daylight white collar robbery' branded  12.5% bond saga.

These days they talk nothing but Taxes.  Anybody can see their mentality and level of know-how about tax system and it creates red signal and havoc in others minds.

This CGT talk also will create harm to the income of the government than good  and create problems in many places including in computer systems.

How can they programme to tax without considering our capital loss incurred  during the period by all the stocks in many PF with different brokers?

exactly correct