The Investor Sentiment - Equity and investments forum for Sri Lankans



Join the forum, it's quick and easy

The Investor Sentiment - Equity and investments forum for Sri Lankans

The Investor Sentiment - Equity and investments forum for Sri Lankans

Would you like to react to this message? Create an account in a few clicks or log in to continue.
The Investor Sentiment - Equity and investments forum for Sri Lankans

The Lankan Investor Forum - A more respectable and reasonable place for members to discuss matters regarding the CSEThe Lankan Investor Forum - A more respectable and reasonable place for members to discuss matters regarding the CSE

Please send an email to contact.lankaninvestor@gmail.com if you face any technical difficulties when posting

Search

 
 

Display results as :
 

 

Rechercher Advanced Search

Latest topics

» CIFC Dumps to Expand Your Possibilities to Pass Your Exam
New Single Withholding Tax of 2.5%......! EmptyFri Jul 19, 2024 10:30 am by faithhharris

» CCS.N0000 ( Ceylon Cold Stores)
New Single Withholding Tax of 2.5%......! EmptyWed Mar 20, 2024 11:31 am by Hawk Eye

» Sri Lanka plans to allow tourists from August, no mandatory quarantine
New Single Withholding Tax of 2.5%......! EmptyWed Sep 13, 2023 12:16 pm by lauryfriese

» When Will It Be Safe To Invest In The Stock Market Again?
New Single Withholding Tax of 2.5%......! EmptyWed Apr 19, 2023 6:41 am by කිත්සිරි ද සිල්වා

» Dividend Announcements
New Single Withholding Tax of 2.5%......! EmptyWed Apr 12, 2023 5:41 pm by කිත්සිරි ද සිල්වා

» MAINTENANCE NOTICE / නඩත්තු දැනුම්දීම
New Single Withholding Tax of 2.5%......! EmptyThu Apr 06, 2023 3:18 pm by කිත්සිරි ද සිල්වා

» ඩොලර් මිලියනයක මුදල් සම්මානයක් සහ “ෆීල්ඩ්ස් පදක්කම” පිළිගැනීම ප්‍රතික්ෂේප කළ ගණිතඥයා
New Single Withholding Tax of 2.5%......! EmptySun Apr 02, 2023 7:28 am by කිත්සිරි ද සිල්වා

» SEYB.N0000 (Seylan Bank PLC)
New Single Withholding Tax of 2.5%......! EmptyThu Mar 30, 2023 9:25 am by yellow knife

» Here's what blind prophet Baba Vanga predicted for 2016 and beyond: It's not good
New Single Withholding Tax of 2.5%......! EmptyThu Mar 30, 2023 9:25 am by HaeroMaero

» The Korean Way !
New Single Withholding Tax of 2.5%......! EmptyWed Mar 29, 2023 7:09 am by කිත්සිරි ද සිල්වා

» In the Meantime Within Our Shores!
New Single Withholding Tax of 2.5%......! EmptyMon Mar 27, 2023 5:51 pm by කිත්සිරි ද සිල්වා

» What is Known as Dementia?
New Single Withholding Tax of 2.5%......! EmptyFri Mar 24, 2023 10:09 am by කිත්සිරි ද සිල්වා

» SRI LANKA TELECOM PLC (SLTL.N0000)
New Single Withholding Tax of 2.5%......! EmptyMon Mar 20, 2023 5:18 pm by කිත්සිරි ද සිල්වා

» THE LANKA HOSPITALS CORPORATION PLC (LHCL.N0000)
New Single Withholding Tax of 2.5%......! EmptyMon Mar 20, 2023 5:10 pm by කිත්සිරි ද සිල්වා

» Equinox ( වසන්ත විෂුවය ) !
New Single Withholding Tax of 2.5%......! EmptyMon Mar 20, 2023 4:28 pm by කිත්සිරි ද සිල්වා

» COMB.N0000 (Commercial Bank of Ceylon PLC)
New Single Withholding Tax of 2.5%......! EmptySun Mar 19, 2023 4:11 pm by කිත්සිරි ද සිල්වා

» REXP.N0000 (Richard Pieris Exports PLC)
New Single Withholding Tax of 2.5%......! EmptySun Mar 19, 2023 4:02 pm by කිත්සිරි ද සිල්වා

» RICH.N0000 (Richard Pieris and Company PLC)
New Single Withholding Tax of 2.5%......! EmptySun Mar 19, 2023 3:53 pm by කිත්සිරි ද සිල්වා

» Do You Have Computer Vision Syndrome?
New Single Withholding Tax of 2.5%......! EmptySat Mar 18, 2023 7:36 am by කිත්සිරි ද සිල්වා

» LAXAPANA BATTERIES PLC (LITE.N0000)
New Single Withholding Tax of 2.5%......! EmptyThu Mar 16, 2023 11:23 am by කිත්සිරි ද සිල්වා

» What a Bank Run ?
New Single Withholding Tax of 2.5%......! EmptyWed Mar 15, 2023 5:33 pm by කිත්සිරි ද සිල්වා

» 104 Technical trading experiments by HUNTER
New Single Withholding Tax of 2.5%......! EmptyWed Mar 15, 2023 4:27 pm by katesmith1304

» GLAS.N0000 (Piramal Glass Ceylon PLC)
New Single Withholding Tax of 2.5%......! EmptyWed Mar 15, 2023 7:45 am by කිත්සිරි ද සිල්වා

» Cboe Volatility Index
New Single Withholding Tax of 2.5%......! EmptyTue Mar 14, 2023 5:32 pm by කිත්සිරි ද සිල්වා

» AHPL.N0000
New Single Withholding Tax of 2.5%......! EmptySun Mar 12, 2023 4:46 pm by කිත්සිරි ද සිල්වා

» TJL.N0000 (Tee Jey Lanka PLC.)
New Single Withholding Tax of 2.5%......! EmptySun Mar 12, 2023 4:43 pm by කිත්සිරි ද සිල්වා

» CTBL.N0000 ( CEYLON TEA BROKERS PLC)
New Single Withholding Tax of 2.5%......! EmptySun Mar 12, 2023 4:41 pm by කිත්සිරි ද සිල්වා

» COMMERCIAL DEVELOPMENT COMPANY PLC (COMD. N.0000))
New Single Withholding Tax of 2.5%......! EmptyFri Mar 10, 2023 4:43 pm by yellow knife

» Bitcoin and Cryptocurrency
New Single Withholding Tax of 2.5%......! EmptyFri Mar 10, 2023 1:47 pm by කිත්සිරි ද සිල්වා

» CSD.N0000 (Seylan Developments PLC)
New Single Withholding Tax of 2.5%......! EmptyFri Mar 10, 2023 10:38 am by yellow knife

» PLC.N0000 (People's Leasing and Finance PLC)
New Single Withholding Tax of 2.5%......! EmptyThu Mar 09, 2023 8:02 am by කිත්සිරි ද සිල්වා

» Bakery Products ?
New Single Withholding Tax of 2.5%......! EmptyWed Mar 08, 2023 5:30 pm by කිත්සිරි ද සිල්වා

» NTB.N0000 (Nations Trust Bank PLC)
New Single Withholding Tax of 2.5%......! EmptySun Mar 05, 2023 7:24 am by කිත්සිරි ද සිල්වා

» Going South
New Single Withholding Tax of 2.5%......! EmptySat Mar 04, 2023 10:47 am by කිත්සිරි ද සිල්වා

» When Seagulls Follow the Trawler
New Single Withholding Tax of 2.5%......! EmptyThu Mar 02, 2023 10:22 am by කිත්සිරි ද සිල්වා

» Re-activating
New Single Withholding Tax of 2.5%......! EmptySat Feb 25, 2023 5:12 pm by කිත්සිරි ද සිල්වා

» අපි තමයි හොඳටම කරේ !
New Single Withholding Tax of 2.5%......! EmptyTue Feb 14, 2023 3:54 pm by ruwan326

» මේ අර් බුධය කිසිසේත්ම මා විසින් නිර්මාණය කල එකක් නොවේ
New Single Withholding Tax of 2.5%......! EmptyTue Jan 03, 2023 6:43 pm by ruwan326

» SAMP.N0000 (Sampath Bank PLC)
New Single Withholding Tax of 2.5%......! EmptyWed Nov 30, 2022 8:24 am by කිත්සිරි ද සිල්වා

» APLA.N0000 (ACL Plastics PLC)
New Single Withholding Tax of 2.5%......! EmptyFri Nov 18, 2022 7:49 am by කිත්සිරි ද සිල්වා

» AVOID FALLING INTO ALLURING WEEKEND FAMILY PACKAGES.
New Single Withholding Tax of 2.5%......! EmptyWed Nov 16, 2022 9:28 pm by කිත්සිරි ද සිල්වා

» Banks, Finance & Insurance Sector Chart
New Single Withholding Tax of 2.5%......! EmptyTue Nov 15, 2022 5:26 pm by කිත්සිරි ද සිල්වා

» VPEL.N0000 (Vallibel Power Erathna PLC)
New Single Withholding Tax of 2.5%......! EmptySun Nov 13, 2022 12:15 pm by කිත්සිරි ද සිල්වා

» DEADLY COCKTAIL OF ISLAND MENTALITY AND PARANOID PERSONALITY DISORDER MIX.
New Single Withholding Tax of 2.5%......! EmptyMon Nov 07, 2022 6:36 pm by කිත්සිරි ද සිල්වා

» WATA - Watawala
New Single Withholding Tax of 2.5%......! EmptySat Nov 05, 2022 8:44 am by කිත්සිරි ද සිල්වා

» KFP.N0000(Keels Food Products PLC)
New Single Withholding Tax of 2.5%......! EmptySat Nov 05, 2022 8:42 am by කිත්සිරි ද සිල්වා

» Capital Trust Broker in difficulty?
New Single Withholding Tax of 2.5%......! EmptyFri Oct 21, 2022 5:25 pm by කිත්සිරි ද සිල්වා

» IS PIRATING INTELLECTUAL PROPERTY A BOON OR BANE?
New Single Withholding Tax of 2.5%......! EmptyThu Oct 20, 2022 10:13 am by කිත්සිරි ද සිල්වා

» What Industry Would You Choose to Focus?
New Single Withholding Tax of 2.5%......! EmptyTue Oct 11, 2022 6:39 pm by කිත්සිරි ද සිල්වා

» Should I Stick Around, or Should I Follow Others' Lead?
New Single Withholding Tax of 2.5%......! EmptyTue Oct 11, 2022 9:07 am by කිත්සිරි ද සිල්වා

Disclaimer


Information posted in this forum are entirely of the respective members' personal views. The views posted on this open online forum of contributors do not constitute a recommendation buy or sell. The site nor the connected parties will be responsible for the posts posted on the forum and will take best possible action to remove any unlawful or inappropriate posts.
All rights to articles of value authored by members posted on the forum belong to the respective authors. Re-using without the consent of the authors is prohibited. Due credit with links to original source should be given when quoting content from the forum.
This is an educational portal and not one that gives recommendations. Please obtain investment advises from a Registered Investment Advisor through a stock broker


+2
First Guy
kass
6 posters

    New Single Withholding Tax of 2.5%......!

    kass
    kass
    kass
    Top contributor
    Top contributor


    Posts : 470
    Join date : 2014-02-27
    • Post n°1

    New Single Withholding Tax of 2.5%......! Empty New Single Withholding Tax of 2.5%......!

    Post by kass Wed Apr 01, 2015 10:16 pm

    The new Gov has done major changes to the WHT as per below circular issues by inland revenue.

    http://www.inlandrevenue.gov.lk/publications/circulars/2015/SEC_2015_02_-_Withholding_tax_on_interest_paid_by_Banks_or_others_E.pdf

    They have removed the income thresholds applicable for individuals. Hence we do not need to handover WHT declarations hereafter (that's what I understood)

    However they have introduced a new WHT of 2.5% applicable to all individuals (except senior citizens) which is charged irrespective of the tenor of your deposit or your income capacity.

    Even If you have a 3 month FD at 6% p.a you have to pay WHT of 2.5% at maturity Evil or Very Mad  This is not a good news for FD holders. Very Happy

    Like to know your ideas on this guys.
    • Back to top
    First Guy
    First Guy
    First Guy


    Posts : 2599
    Join date : 2014-02-22
    • Post n°2

    New Single Withholding Tax of 2.5%......! Empty Re: New Single Withholding Tax of 2.5%......!

    Post by First Guy Thu Apr 02, 2015 6:36 am

    I think it's ok.

    Earlier WHT exemption was for those with income less than 600,000/- per year (50,000/- per month) so only those will be negatively affected as others were anyway paying at least 2.5%

    For 100,000/- 3 month FD at 6% the WHT amounts to 37.50/- Smile
    • Back to top
    smallville
    smallville
    smallville
    Top contributor
    Top contributor


    Posts : 1872
    Join date : 2014-02-23
    Location : Trying to figure out..
    • Post n°3

    New Single Withholding Tax of 2.5%......! Empty Re: New Single Withholding Tax of 2.5%......!

    Post by smallville Thu Apr 02, 2015 7:26 am

    Withholding tax is applicable to the interest income you earn.. So its not a big amount.

    However, if Credit cards interests are reduced to 16%, its gonna be a good saving.
    • Back to top
    serene
    avatar
    serene
    Top contributor
    Top contributor


    Posts : 4850
    Join date : 2014-02-26
    • Post n°4

    New Single Withholding Tax of 2.5%......! Empty Re: New Single Withholding Tax of 2.5%......!

    Post by serene Thu Apr 02, 2015 7:38 am

    Thanks kass for sharing.
    Now ppl dont have to submit false declarations. Smile
    • Back to top
    Hybrid
    Hybrid
    Hybrid


    Posts : 745
    Join date : 2015-02-03
    Location : Colombo
    • Post n°5

    New Single Withholding Tax of 2.5%......! Empty Re: New Single Withholding Tax of 2.5%......!

    Post by Hybrid Thu Apr 02, 2015 8:03 am

    I think it is a good idea.

    No need to track the tax dodgers.
    Simple system for the banks
    No need of forms
    No head ache for some finance companies to balance the three present slabs for tax: Zero %, 2.5% and 8%.
    But the MOST benefit is that we need not produce more children so that the deposits are made in their names!! lol! lol!

    Most of the deposits are spread within the family to avoid taxes. On average the IR will benefit to some degree and bring in more revenue for the Govt.

    At least some good thoughts are coming through!


    • Back to top
    balapas
    avatar
    balapas
    Top contributor
    Top contributor


    Posts : 762
    Join date : 2014-02-23
    Age : 44
    • Post n°6

    New Single Withholding Tax of 2.5%......! Empty Re: New Single Withholding Tax of 2.5%......!

    Post by balapas Thu Apr 02, 2015 10:00 am

    I think this is a good move since tax dodging can be avoided. Big hassle to fill the WHT forms every year and go to the banks/finance co's to hand over. (need to hand over otherwise if posted say did not receive) and was mentioned will be taxed 10% if not send it. Dont know whether ppl were charged unknowingly.

    • Back to top
    Sponsored content

    Sponsored content


    • Post n°7

    New Single Withholding Tax of 2.5%......! Empty Re: New Single Withholding Tax of 2.5%......!

    Post by Sponsored content

    • Back to top

      Current date/time is Fri Nov 15, 2024 3:17 pm