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Sri Lanka Equity Forum » Stock Market Talk » Capital Gain Tax

Capital Gain Tax

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1 Capital Gain Tax on Tue Nov 15, 2016 12:33 pm

RoughRider

avatar
Equity Analytic
Equity Analytic
Dear All,

I'm a little confused on the application of CGT. 

The following are what I understood about it & kindly correct me/add more details if below points are wrong/incomplete.

(I) CGT is not applicable on share-based transactions (CSE will not be affected)

(II) 10% of CGT is applicable on property-based transactions (acquired within last 10 years) & only the seller has to pay 10% CGT based on the capital gain made on such transactions.

This will come into effect on property-based transactions after 01st April 2017 & sellers would not have to pay the tax for transactions before that.

CHEERS!!!

2 Re: Capital Gain Tax on Tue Nov 15, 2016 1:33 pm

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Capital gain tax 10% is applicable only for immovable property. Not sure whether they apply the CGT policy for past transactions.
Determining the market value of the property is the main criteria in computing the capital gain.

3 Re: Capital Gain Tax on Tue Nov 15, 2016 2:18 pm

RoughRider

avatar
Equity Analytic
Equity Analytic
Thanks a lot worthiness for ur feedback.


As per whar I heard, the tax will be imposed from next year onwards (01st April 2017)


Transactions done before that would not be taxed!!!

4 Re: Capital Gain Tax on Mon Nov 21, 2016 2:39 pm

econ

avatar
Global Moderator
They will surely apply for share transaction in near future. Government need money somehow so try to tax from what they could.


_________________

--------------------
This is not buying\selling recommendation. Do your own analysis before take any decision

5 Re: Capital Gain Tax on Mon Nov 21, 2016 3:18 pm

samaritan


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@econ wrote:They will surely apply for share transaction in near future. Government need money somehow so try to tax from what they could.
You are right. The Govt needs money to increase salaries and perks to MPs who have sacrificed their pleasures in order to serve the masses. They must be compensated for the selfless service they are rendering to the people. Some people don't seem to understand this.

6 Re: Capital Gain Tax on Mon Nov 21, 2016 3:42 pm

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Where necessary, rulers may apply the CGT on immovable property transactions done in the past. It is similar to super gain tax charged for the past period.
Non ending hostility arises from civil organizations if rulers uphold the decision to increase the perks to discreditable parliamentarians.

7 Re: Capital Gain Tax on Mon Nov 21, 2016 5:15 pm

kumarweerarathne

avatar
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
According to the reliable sources the CGT is imposed on share transactions in near future. Sad

8 Re: Capital Gain Tax on Mon Nov 21, 2016 5:22 pm

stockback


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@kumarweerarathne wrote:According to the reliable sources the  CGT is imposed on share transactions in near future. Sad


Finance minister said. no CGT for Stock market......

Government collect plenty of tax. then they no need to worry about CGT stock market.

9 Re: Capital Gain Tax on Mon Nov 21, 2016 5:33 pm

samaritan


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@kumarweerarathne wrote:According to the reliable sources the  CGT is imposed on share transactions in near future. :(
Imposition of CGT to an already ailing market will only kill it. They may have to tax losses and not profits. So, in my opinion when the indices drops steadily they will make a very clear announcement without any ambiguity that CGT will not apply to share transactions. This is the reason to say "near future" without giving a specified date.

10 Re: Capital Gain Tax on Mon Nov 21, 2016 5:39 pm

samaritan


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@stockback wrote:
@kumarweerarathne wrote:According to the reliable sources the  CGT is imposed on share transactions in near future. :(


Finance minister said. no CGT for Stock market......

Government collect plenty of tax. then they no need to worry about CGT stock market.
You are right, he said this prior to the budget.

11 Re: Capital Gain Tax on Mon Nov 21, 2016 6:45 pm

D.G.Dayaratne


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
CGT tax also another "GONI BILLA" created by anti govt propaganda


CGT is tax on profit

If we can earn profits why can't we pay small % as tax

Govt also will have to make some effort to increase share traders profits

otherwise no Tax (INcome) to the govt

12 Re: Capital Gain Tax on Mon Nov 21, 2016 7:48 pm

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Overnight changes are still possible. 

So investors are perplexed by many conflicting situations filled with bewilderment. Poor clarification of events at the initial stage had caused the damage.

13 Re: Capital Gain Tax on Mon Nov 21, 2016 9:20 pm

Chinwi

avatar
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@stockback wrote:
@kumarweerarathne wrote:According to the reliable sources the  CGT is imposed on share transactions in near future. Sad


Finance minister said. no CGT for Stock market......


මිනිහ කිව්වද  ? එහෙනම් ඉතින් ආයෙ බය වෙන්න දෙයක් නෑ. මිනිහ කිව්වොත් ඉතින් ආයෙ වචන දෙකක් නෑ. ගලේ කොටපු අකුර වගේ තමයි.
ඒ දවස් වල ඇතුලත්මුදලි මහත්තයත් අපිත් එක්ක කියනව,
"කොහොමද මගෙ සිලෙක්‍ෂන් එක.​"  "වෙරි රිලයබල් චැප්" කියල​.



(BTW, my comment is just for fun , not a reply directed to stockback. Smile )

14 Re: Capital Gain Tax on Mon Nov 21, 2016 9:43 pm

dennam jambu


Senior Equity Analytic
Senior Equity Analytic
පඩියට බදු, බැංකුවේ සල්ලි ගත්තත්  බදු ,දම්මත් බදු, පොලියටත් බදු , එ නිසා කොටස් වෙලදපොලේ දැම්මත් බදු ,ලාබංසටත් බදු, අප්සෙට් එකට බොන්නටත්  බෑ එකටත් බදු, . ගොඩ එන්නනම් බෑ පුතෝ.   අර මන්ත්රිලට වාහන අරන් දීලා ආණ්ඩුවෙන්ම  ලීස්  එක ගෙවල ඉවර උනාට පස්සේ  වාහන 57ක් මේ මටම අය්තිවෙන වගේ බිස්නස්  එකක් රවිගෙන් ඉල්ලගත්තොත්නම්  ගොඩේ ගොඩ.

15 Re: Capital Gain Tax on Tue Nov 22, 2016 4:33 am

DANIDU


Manager - Equity Analytics
Manager - Equity Analytics
@stockback wrote:
@kumarweerarathne wrote:According to the reliable sources the  CGT is imposed on share transactions in near future. Sad


Finance minister said. no CGT for Stock market......

Government collect plenty of tax. then they no need to worry about CGT stock market.
Yes, only remaining to tax on shares market, let them to do it, at-least they will be happy and we will get clear direction. 

Yet non of them tell us directly that there is no tax on share market, Why these buggers playing like this?

16 Re: Capital Gain Tax on Tue Nov 22, 2016 6:31 am

Chinwi

avatar
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@dennam jambu wrote:පඩියට බදු, බැංකුවේ සල්ලි ගත්තත්  බදු ,දම්මත් බදු, පොලියටත් බදු , එ නිසා කොටස් වෙලදපොලේ දැම්මත් බදු ,ලාබංසටත් බදු, අප්සෙට් එකට බොන්නටත්  බෑ එකටත් බදු, . ගොඩ එන්නනම් බෑ පුතෝ.   අර මන්ත්රිලට වාහන අරන් දීලා ආණ්ඩුවෙන්ම  ලීස්  එක ගෙවල ඉවර උනාට පස්සේ  වාහන 57ක් මේ මටම අය්තිවෙන වගේ බිස්නස්  එකක් රවිගෙන් ඉල්ලගත්තොත්නම්  ගොඩේ ගොඩ.


ඉතුරු වෙලා තියෙන්නෙ තව ටිකයි. ඒව ලබන අය වැයෙන් .

කවුරුත් දන්නෙ නැති උනාට තව බොහෝ ඒවට වැට් වැදිල​.
 ඊයෙ ඉඳල මල් පැල විකුණන අයටත් බදු !
දියත උයනේ මල් පැල විකුණන අයට මාසෙට 2000 ක් වැට් ගහන්න පටන් අරන් මේ සතියෙ ඉඳල​.
ජනවාරි ඉඳල බිම් කුලිය මාසෙට 20,000 කරල වැට් එකත් 2500 කරනව කියල ඒ මිනිස්සු දෙස් විලාප තියනව​.

ඒ ස්වයං රැකියාවත් ඉවරයි වගේ.

මේකෙන් බඩට වදින්නෙ එතන පැල විකුණන සිය ගානක් දෙනාට පමණක් නොවේ. ඒ මල් පැල වවන දහස් ගාණක් පවුල් ඉන්නව හිඟුරක්ගොඩ​, බලන් ගොඩ ආදී ප්‍රදේශ වල​.
පෝට් සිටිය නැවත්තුවම හිතපු නැති අය දහස් ගානක් පාරට වැටුන වගේ තමයි හැම දෙයකම චේන් රිඇක්‍ෂන් තියෙනව හිටං.
(හිටං හා හුටං ට මෙව්ව තේරෙනවද දන්නෙ නෑ හිටං.)
රජය බැලුවෙ මල් කඩ හා ආහාර කඩ හරහා ඔතෙනට එන ජනතාවගෙන් මාසෙට ලක්‍ෂ 50 පන්නල හෙවත් වසර තුල කෝටි 6 කට එහා එකතු කරගන්න තියෙන චාන්ස් එක ගැන විතරයි.  

(හැබැයි ලස්සන වැඩේ තමයි, ඔය දියත උයන සුපිරි ලෙවල් එකට හදල පහසුකම් සලස්වල  බැංකොක් වල වත් නැති විදියට මල් ව්‍යාපරයට ස්ථානයක් හැදුවේ ගෝඨාභය මහත්තය​.
මේ රජය ආපු දවස් වල ඕකෙ මල් විකුණන කට්ටිය බොහෝ දෙනක් ඒ  මනුස්සයට බැන බැන හිටිය  මේව හදල තියෙන්නෙ හොරකම් කරන්න කියල​.
 දැන් ඉතින් කටවල් බෙරි කරගෙන මූණු එල්ලගෙන ඉන්නව​. )

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