Budget 2015 Jan

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1.45 p.m. Stock market has come a laughing stock under the previous regime. And the super rich stop market barons followed a pump and dump policy leading to the deterioration of the stock market, Finance Minister Ravi Karunanayake said.

I was going to mention about this. Even Ranil said there will be action few days back. Watching the live coverage. There will be some impact on the market if actions is taken. However can not say its a bad move.

What interested me so far was the 15% for FDs for senior citizens for deposits up to Rs1mn. If more can break and deposit from what I know. He said commercial banks not sure whether applies to finance companies. Good to have a joint FD with parents or FDs under their name. There will be an interest rate mismatch for banks.

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I  really like Ravi and Tilak... I was really wondering when to collect... Thanx for not making impatient...

14:03 - Expenses of presidential secretariat - 2014 Rs. 10,4970 million / estiamted cost for 2015 was Rs 95,930 million but it has been brought down to Rs. 2560 million -

How the value of our previous president? Apparade now we only have a cheap fellow.
105 billion> 3 billion

Reduction in prices (election bonanza)
Sugar 10/-, Milk powdre (400g 325/-) flour 10/- mung ata 30/- sprats 15/- canned fish 52/- koththamalli 26 Maldivian fish 200, kerosine by 6/-, gas 300/-, bread by 6/- (hooray first time bread prices reduction since CBK's time???)

aiyo salli - kotta malli down - hooray !

This is not good for market - Supergain tax - any company of which the profict exceeded Rs. 2000 million  - tax amout worth 25% off its profit will be charged. Is it annual ??

13 Essential goods price reduction by removal of taxes - with effect from midnight
Sugar: Rs. 10 reduction - tax reduced from Rs. 28 up to Rs. 10
Milk powder 400g packet will be Rs. 325 (maximum retail price) - reduction of Rs. 61
Sustagen milk powder to be reduced by Rs. 100 (400g)
Flour prices reduced by Rs. 12.50 per kilo
Bread - reduced by Rs. 6
Green grams - reduction by Rs. 40 per kilo
Sprats: Reduction of Rs. 15
Canned fish - Reduced by Rs. 60
Coriander - Reduced by Rs. 60 per kilo
Maldive fish - taxes reduced by Rs. 200
Canned fish - Reduced by Rs. 60
Coriander - Reduced by Rs. 60 per kilo
Chilli powder - Reduced by Rs. 25 (powdered) - See more at: http://www.dailymirror.lk/#sthash.VhFFd3Ct.dpuf

Vehicle taxes reduction 15% reduced (for vehciles with engines below 1000 CC) - UML ....UML...

Vehicle assembly plants have neglected their incometax payments during the previous regime. Rs. 12,0000 million revenue expected through prompt payments - oopsss

What the hell is this??? Does this on top of company tax 15%??

Supergain tax - any company of which the profit exceeded Rs. 2000 million - tax amount worth 25% off its profit will be charged

Tax on cement reduced by 7%.. TKYO

balapas wrote:This is not good for market - Supergain tax - any company of which the profict exceeded Rs. 2000 million  - tax amout worth 25% off its profit will be charged. Is it annual ??

as I heard for the companies who gain this for the 2012-2013 or is it for 2013-2014?

puliyanam wrote:Tax on cement reduced by 7%.. TKYO

Cement prices to be reduced by Rs. 99... It is bottom hit for Tokyo, not beneficial as not from tax...

Jana1 wrote:What the hell is this??? Does this on top of company tax 15%??

Supergain tax - any company of which the profit exceeded Rs. 2000 million  - tax amount worth 25% off its profit will be charged

Now the company tax is 28%... am i correct.

Wow wow!!!!

So mkt could cum down as sum big guys cash out to pay 1bn.. Good to keep an eye...mainly Dammi's co.

Casino business-owners to pay Rs: 1000 millionas a tax - first payment to be made before April.

Hefty taxes on many business areas.

We need to discuss this in detail later.

UNP no more capitalists?

CSN will have to be closed lol Rs1000mn tax and no more cricket.

Seyon wrote:

Jana1 wrote:What the hell is this??? Does this on top of company tax 15%??

Supergain tax - any company of which the profit exceeded Rs. 2000 million  - tax amount worth 25% off its profit will be charged

Now the company tax is 28%... am i correct.

I am not accountant by profession. So I just calculated JKH and Spen tax paid %. It sits around 15%, So I thought only 15%. Any experts???

puliyanam wrote:Tax on cement reduced by 7%.. TKYO

price also reduced by 90...

balapas wrote:

UNP no more capitalists?

Ko ithin hitapu capitalist anduwata thibba lamboghinis wadiy kiyala pannala dammane.

Anyway cheese eaters will always vote for the UNP. They will pay the mansion tax, liquor tax and keep voting.
Ranilans has learned the lessons from 2002 and trying to catch the votes from the farmers, middle class, anti casino crowd.

so much for telecommunication companies also

ජංගම දුරකතන සමාගම් සඳහා එක්වරක් පමණක් රුපියල් මිලියන 250ක බද්දක්

සැටලයිට් රූපවාහිනී හිමිකරුවන් සඳහා මිලියන 1000 ක බද්දක්

balapas wrote:This is not good for market - Supergain tax - any company of which the profict exceeded Rs. 2000 million  - tax amout worth 25% off its profit will be charged. Is it annual ??

This could be to balance the loss revenue on reduced prices on essential items.

I presume this tax will affect portion of dividend declare for ordinary shareholders? Is there any correlation between  ASI on negative territory today and the budget proposals? .

Next step is to get this mini budget passed in the parliament? Opposition (majority) will vote for the reduction of prices of essential items, when it comes to corporate taxes (hopefully) there will be some debate as to implementation. So the road will not not end here.

yaka wrote:

puliyanam wrote:Tax on cement reduced by 7%.. TKYO

price also reduced by 90...

Only the tax is reduced. So no impact on the company performance in terms of GP margin.

But there will be an effect on TKYO by super tax.

Yes yaka,

too much for telecommunication.

ජංගම දුරකතන සමාගම් සඳහා එක්වරක් පමණක් රුපියල් මිලියන 250ක බද්දක්

සැටලයිට් රූපවාහිනී හිමිකරුවන් සඳහා මිලියන 1000 ක බද්දක්

and any company making profit more than 200mil will carged 25% tax

25% tax must payed by company for reloads

Is this is a punishment for telecommunication for blocking sirasa and some other channels when MY3 was there and sms campain for mahinda.

Here is the summary. However few points here and their missing. Budget PDF should be available online soon.

http://www.dailymirror.lk/budget/62501

15:33 - Interest rate for Loans taken by Credit cards will be maximum up to 8%