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Sri Lanka Equity Forum » Stock Market Talk » CAPITAL GAINS TAX IS NOT APPLICABLE TO SHARE TRANSACTIONS

CAPITAL GAINS TAX IS NOT APPLICABLE TO SHARE TRANSACTIONS

Go down  Message [Page 1 of 1]

samaritan


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
 by samaritan Today at 10:03 am

@EquityChamp wrote:Ministry of Finance has introduce three telephone numbers to get clarity on budget proposals. You can directly dial and ask the questions. Numbers are as below.

0710242314
0710242310
0710242311

You can call now itself.

Thanks

Thanks EC, I called 0710242314 and was told that the CGT is applicable only for immovable property and not for share transactions

Ryan Hudson


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
something happeining to cocr watchout guys and gals

Ryan Hudson


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
cocr whats happening

EquityChamp

avatar
Moderator
@samaritan wrote: by samaritan Today at 10:03 am

@EquityChamp wrote:Ministry of Finance has introduce three telephone numbers to get clarity on budget proposals. You can directly dial and ask the questions. Numbers are as below.

0710242314
0710242310
0710242311

You can call now itself.

Thanks

Thanks EC, I called 0710242314 and was told that the CGT is applicable only for immovable property and not for share transactions

Ok. Now the concern is CGT is not applicable but the exception removal proposal states the tax exceptions on profits from listed securities is removed. If this listed securities means shares then the profits means gain which means tax exceptions given on stock gains is removed. The other name for stock gain is capital gain. Now we need to get these two statements together and clarify exactly what does this mean .

Thanks

sapumal


Vice President - Equity Analytics
Vice President - Equity Analytics
@EquityChamp wrote:
@samaritan wrote: by samaritan Today at 10:03 am

@EquityChamp wrote:Ministry of Finance has introduce three telephone numbers to get clarity on budget proposals. You can directly dial and ask the questions. Numbers are as below.

0710242314
0710242310
0710242311

You can call now itself.

Thanks

Thanks EC, I called 0710242314 and was told that the CGT is applicable only for immovable property and not for share transactions

Ok. Now the concern is CGT is not applicable but the exception removal proposal states the tax exceptions on profits from listed securities is removed. If this listed securities means shares then the profits means gain which means tax exceptions given on stock gains is removed. The other name for stock gain is capital gain. Now we need to get these two statements together and clarify exactly what does this mean .

Thanks
Listed securities includes shares.
But definition for CGT in share market is key.

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