LBO Home IndoChina | About Us | To Advertise | Contact Us rss LBO Mobil rss rss rss rss rss
Sat, 20 December 2014 11:17:14
Sri Lanka promotes new stock listings, debentures with tax breaks
08 Nov, 2012 16:50:34
Nov 08, 2012 (LBO) - Companies that list on the Colombo Stock Exchange will be given a 3-year concessionary tax 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.

New listings will be taxed at half the rate for three years.

Listed debenture interest is now subject to a 10 percent withholding tax.

Stocks margin trading accounts 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.

Your Comment
Your Name/Handle
Your Email (Your email will not be displayed)
Location
Country
Your Email
Receivers Email
Your Comment
 
READER COMMENT(S)
3. adam Nov 09
Hopefully, you cant list, and then is 3 years de-list. Also, SEC/CSE and committee should look to increase the public float of all listed companies to atleast to 20% to remain listed.

Companies with a public float below 20% should be asked to pay a fine !!!

2. VJ Nov 08
By hook or crook they want to prop the market!
1. Investor Nov 08
Good strategy to keep only one book :) good news for all investment bankers