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

Latest topics

» CIFC Dumps to Expand Your Possibilities to Pass Your Exam
Budget: No terrors to the small man-Ravi EmptyFri Jul 19, 2024 10:30 am by faithhharris

» CCS.N0000 ( Ceylon Cold Stores)
Budget: No terrors to the small man-Ravi EmptyWed Mar 20, 2024 11:31 am by Hawk Eye

» Sri Lanka plans to allow tourists from August, no mandatory quarantine
Budget: No terrors to the small man-Ravi EmptyWed Sep 13, 2023 12:16 pm by lauryfriese

» When Will It Be Safe To Invest In The Stock Market Again?
Budget: No terrors to the small man-Ravi EmptyWed Apr 19, 2023 6:41 am by කිත්සිරි ද සිල්වා

» Dividend Announcements
Budget: No terrors to the small man-Ravi EmptyWed Apr 12, 2023 5:41 pm by කිත්සිරි ද සිල්වා

» MAINTENANCE NOTICE / නඩත්තු දැනුම්දීම
Budget: No terrors to the small man-Ravi EmptyThu Apr 06, 2023 3:18 pm by කිත්සිරි ද සිල්වා

» ඩොලර් මිලියනයක මුදල් සම්මානයක් සහ “ෆීල්ඩ්ස් පදක්කම” පිළිගැනීම ප්‍රතික්ෂේප කළ ගණිතඥයා
Budget: No terrors to the small man-Ravi EmptySun Apr 02, 2023 7:28 am by කිත්සිරි ද සිල්වා

» SEYB.N0000 (Seylan Bank PLC)
Budget: No terrors to the small man-Ravi 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
Budget: No terrors to the small man-Ravi EmptyThu Mar 30, 2023 9:25 am by HaeroMaero

» The Korean Way !
Budget: No terrors to the small man-Ravi EmptyWed Mar 29, 2023 7:09 am by කිත්සිරි ද සිල්වා

» In the Meantime Within Our Shores!
Budget: No terrors to the small man-Ravi EmptyMon Mar 27, 2023 5:51 pm by කිත්සිරි ද සිල්වා

» What is Known as Dementia?
Budget: No terrors to the small man-Ravi EmptyFri Mar 24, 2023 10:09 am by කිත්සිරි ද සිල්වා

» SRI LANKA TELECOM PLC (SLTL.N0000)
Budget: No terrors to the small man-Ravi EmptyMon Mar 20, 2023 5:18 pm by කිත්සිරි ද සිල්වා

» THE LANKA HOSPITALS CORPORATION PLC (LHCL.N0000)
Budget: No terrors to the small man-Ravi EmptyMon Mar 20, 2023 5:10 pm by කිත්සිරි ද සිල්වා

» Equinox ( වසන්ත විෂුවය ) !
Budget: No terrors to the small man-Ravi EmptyMon Mar 20, 2023 4:28 pm by කිත්සිරි ද සිල්වා

» COMB.N0000 (Commercial Bank of Ceylon PLC)
Budget: No terrors to the small man-Ravi EmptySun Mar 19, 2023 4:11 pm by කිත්සිරි ද සිල්වා

» REXP.N0000 (Richard Pieris Exports PLC)
Budget: No terrors to the small man-Ravi EmptySun Mar 19, 2023 4:02 pm by කිත්සිරි ද සිල්වා

» RICH.N0000 (Richard Pieris and Company PLC)
Budget: No terrors to the small man-Ravi EmptySun Mar 19, 2023 3:53 pm by කිත්සිරි ද සිල්වා

» Do You Have Computer Vision Syndrome?
Budget: No terrors to the small man-Ravi EmptySat Mar 18, 2023 7:36 am by කිත්සිරි ද සිල්වා

» LAXAPANA BATTERIES PLC (LITE.N0000)
Budget: No terrors to the small man-Ravi EmptyThu Mar 16, 2023 11:23 am by කිත්සිරි ද සිල්වා

» What a Bank Run ?
Budget: No terrors to the small man-Ravi EmptyWed Mar 15, 2023 5:33 pm by කිත්සිරි ද සිල්වා

» 104 Technical trading experiments by HUNTER
Budget: No terrors to the small man-Ravi EmptyWed Mar 15, 2023 4:27 pm by katesmith1304

» GLAS.N0000 (Piramal Glass Ceylon PLC)
Budget: No terrors to the small man-Ravi EmptyWed Mar 15, 2023 7:45 am by කිත්සිරි ද සිල්වා

» Cboe Volatility Index
Budget: No terrors to the small man-Ravi EmptyTue Mar 14, 2023 5:32 pm by කිත්සිරි ද සිල්වා

» AHPL.N0000
Budget: No terrors to the small man-Ravi EmptySun Mar 12, 2023 4:46 pm by කිත්සිරි ද සිල්වා

» TJL.N0000 (Tee Jey Lanka PLC.)
Budget: No terrors to the small man-Ravi EmptySun Mar 12, 2023 4:43 pm by කිත්සිරි ද සිල්වා

» CTBL.N0000 ( CEYLON TEA BROKERS PLC)
Budget: No terrors to the small man-Ravi EmptySun Mar 12, 2023 4:41 pm by කිත්සිරි ද සිල්වා

» COMMERCIAL DEVELOPMENT COMPANY PLC (COMD. N.0000))
Budget: No terrors to the small man-Ravi EmptyFri Mar 10, 2023 4:43 pm by yellow knife

» Bitcoin and Cryptocurrency
Budget: No terrors to the small man-Ravi EmptyFri Mar 10, 2023 1:47 pm by කිත්සිරි ද සිල්වා

» CSD.N0000 (Seylan Developments PLC)
Budget: No terrors to the small man-Ravi EmptyFri Mar 10, 2023 10:38 am by yellow knife

» PLC.N0000 (People's Leasing and Finance PLC)
Budget: No terrors to the small man-Ravi EmptyThu Mar 09, 2023 8:02 am by කිත්සිරි ද සිල්වා

» Bakery Products ?
Budget: No terrors to the small man-Ravi EmptyWed Mar 08, 2023 5:30 pm by කිත්සිරි ද සිල්වා

» NTB.N0000 (Nations Trust Bank PLC)
Budget: No terrors to the small man-Ravi EmptySun Mar 05, 2023 7:24 am by කිත්සිරි ද සිල්වා

» Going South
Budget: No terrors to the small man-Ravi EmptySat Mar 04, 2023 10:47 am by කිත්සිරි ද සිල්වා

» When Seagulls Follow the Trawler
Budget: No terrors to the small man-Ravi EmptyThu Mar 02, 2023 10:22 am by කිත්සිරි ද සිල්වා

» Re-activating
Budget: No terrors to the small man-Ravi EmptySat Feb 25, 2023 5:12 pm by කිත්සිරි ද සිල්වා

» අපි තමයි හොඳටම කරේ !
Budget: No terrors to the small man-Ravi EmptyTue Feb 14, 2023 3:54 pm by ruwan326

» මේ අර් බුධය කිසිසේත්ම මා විසින් නිර්මාණය කල එකක් නොවේ
Budget: No terrors to the small man-Ravi EmptyTue Jan 03, 2023 6:43 pm by ruwan326

» SAMP.N0000 (Sampath Bank PLC)
Budget: No terrors to the small man-Ravi EmptyWed Nov 30, 2022 8:24 am by කිත්සිරි ද සිල්වා

» APLA.N0000 (ACL Plastics PLC)
Budget: No terrors to the small man-Ravi EmptyFri Nov 18, 2022 7:49 am by කිත්සිරි ද සිල්වා

» AVOID FALLING INTO ALLURING WEEKEND FAMILY PACKAGES.
Budget: No terrors to the small man-Ravi EmptyWed Nov 16, 2022 9:28 pm by කිත්සිරි ද සිල්වා

» Banks, Finance & Insurance Sector Chart
Budget: No terrors to the small man-Ravi EmptyTue Nov 15, 2022 5:26 pm by කිත්සිරි ද සිල්වා

» VPEL.N0000 (Vallibel Power Erathna PLC)
Budget: No terrors to the small man-Ravi EmptySun Nov 13, 2022 12:15 pm by කිත්සිරි ද සිල්වා

» DEADLY COCKTAIL OF ISLAND MENTALITY AND PARANOID PERSONALITY DISORDER MIX.
Budget: No terrors to the small man-Ravi EmptyMon Nov 07, 2022 6:36 pm by කිත්සිරි ද සිල්වා

» WATA - Watawala
Budget: No terrors to the small man-Ravi EmptySat Nov 05, 2022 8:44 am by කිත්සිරි ද සිල්වා

» KFP.N0000(Keels Food Products PLC)
Budget: No terrors to the small man-Ravi EmptySat Nov 05, 2022 8:42 am by කිත්සිරි ද සිල්වා

» Capital Trust Broker in difficulty?
Budget: No terrors to the small man-Ravi EmptyFri Oct 21, 2022 5:25 pm by කිත්සිරි ද සිල්වා

» IS PIRATING INTELLECTUAL PROPERTY A BOON OR BANE?
Budget: No terrors to the small man-Ravi EmptyThu Oct 20, 2022 10:13 am by කිත්සිරි ද සිල්වා

» What Industry Would You Choose to Focus?
Budget: No terrors to the small man-Ravi EmptyTue Oct 11, 2022 6:39 pm by කිත්සිරි ද සිල්වා

» Should I Stick Around, or Should I Follow Others' Lead?
Budget: No terrors to the small man-Ravi 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


4 posters

    Budget: No terrors to the small man-Ravi

    avatar
    yaka


    Posts : 374
    Join date : 2014-02-28

    Budget: No terrors to the small man-Ravi Empty Budget: No terrors to the small man-Ravi

    Post by yaka Thu Nov 05, 2015 9:28 am

    Ceylon Finance Today: 'Budget 2016' to be presented in another 15 days' time on 20 November will hold no terrors to the small man, Finance Minister Ravi Karunanayake said.


    Speaking at a tax seminar organized by the International Fiscal Association Sri Lanka branch yesterday, he however warned that tax dodgers will be roped in under a new computerized system launched by the Inland Revenue Department. "They will be dealt with justly, but firmly," he said.


    "There will be no room for immunity or impunity to such persons under the new regime," the Minister said. He further said that under the new computerized system, every person, whether he be a taxpayer or not, will have a tax file.

    Financial transactions made by individuals under this computerized system will be monitored, he said.
    Black money which forms at least 30% to 40% of the economy, will be brought in to the formal economy, the minister said.
    Karunanayake however said in a democratic system as practised by this government, it will be up to the people of this country to decide where they would want Sri Lanka to head to?
    He further said that every US dollar that comes in to the country through the banking system will be accepted without any questions asked. The government wants to create a new Sri Lanka, that's what Budget 2020 aims for. He said that the government's vision for the country would be further explained by Premier Ranil Wickremesinghe who will spell out the government's economic vision to the island today.


    "We want Sri Lanka to be a better investment destination than either Singapore, Dubai, Malaysia or Qatar," said Karunanayake.
    He also said that the plethora of taxes, numbering some over 30 at present, will be streamlined and reduced. To a question as to whether the VAT would be replaced, allegedly due to the deleterious effects it has on the honest taxpayer, Karunanayake told the audience to "wait and see" as to what the outcome of Budget 2016 would be.
    The minister said that efforts will be made to stop the drain of unskilled and semi-skilled resources from out of the country when there is a need for such persons within Sri Lanka, with the island suffering from a dearth of such resources.


    There is no logic for a person to go out of the country, away from the family to labour for Rs 35,000-40,000 a month, when such an earning could be made in Sri Lanka, said Karunanayake.
    In response to comments made by American billionaire Mark Mobius of Templeton Fund who invested US$ one billion in government securities in 2009, but is now allegedly withdrawing them, of the negative effects of retrospective taxes and the suspension of the US$ 1.4 billion Colombo Port City Project made by this government, the minister, referring to the high interest of some 11-12% earned by Mobius because of his local investments, said that the country can get along even without such investors.


    He further said that the country inherited a debt of Rs 8.9 trillion from the previous regime. But this figure may expand when persons submit bills for contracts executed, given by the previous regime, bypassing the globally accepted tender regime.
    A case of worry is that the revenue to GDP ratio which was at a high of 17.6% to GDP in the 1990s has since come down to 10.85%. Budget 2016 will endeavour to make revenue regain those high peaks without hurting the common man, he said.


    Indirect taxes which contribute to 80% of tax revenue will be weeded out with direct taxation gaining ascendancy, said Karunanayake. Waste will be cut down to minimize recurrent expenditure, the minister said. Currently interest payments, salaries and pensions eat up all of revenue, he said.


    The private sector will called upon to play their part in order to uplift growth to the 8% target, while an investor friendly climate, such as the liberalization of land laws will be made to encourage foreign investments, and at the same time ensuring that the rights of the locals would not be infringed upon, said Karunanayake.
    http://www.ceylontoday.lk/22-108424-news-detail-budget-no-terrors-to-the-small-man-ravi.html
    avatar
    yellow knife
    Top contributor
    Top contributor


    Posts : 6980
    Join date : 2014-03-27

    Budget: No terrors to the small man-Ravi Empty Re: Budget: No terrors to the small man-Ravi

    Post by yellow knife Thu Nov 05, 2015 10:18 am

    thanx for sharing
    avatar
    roshana7549


    Posts : 280
    Join date : 2014-04-18

    Budget: No terrors to the small man-Ravi Empty Re: Budget: No terrors to the small man-Ravi

    Post by roshana7549 Thu Nov 05, 2015 10:37 am

    Thanks, lot of hints....
    avatar
    poor boy
    Active Member
    Active Member


    Posts : 766
    Join date : 2014-10-09

    Budget: No terrors to the small man-Ravi Empty Re: Budget: No terrors to the small man-Ravi

    Post by poor boy Thu Nov 05, 2015 11:55 am

    This ayahapalana govt increased the salaries of and pensions , creating a big disparity in earnings between govt servants and private sector workers/general public.. now they are saying no money to pay salaries. among the good things done by previous regime fertilizer subsidy is a useful one. it increased the productivity in agri and plantation sector. thats why we had bumper harvests during past years. now yahapalana is going to stop it by giving money.this may be a first step for stopping the subsidy. other thing is farmers instead of buying fertilizer for the money given, it can be used for consumption and liquor etc.
    avatar
    yellow knife
    Top contributor
    Top contributor


    Posts : 6980
    Join date : 2014-03-27

    Budget: No terrors to the small man-Ravi Empty Re: Budget: No terrors to the small man-Ravi

    Post by yellow knife Thu Nov 05, 2015 12:20 pm

    poor boy

    This is one terrible mistake government is going to do as it seems...cutting agri subsidy...

    Even Elpitiya Plantation acknowledged the benefit of agri subsidy...

    http://forum.lankaninvestor.com/t6205-elpl-n0000-elpitiya-plantations-plc
    avatar
    yaka


    Posts : 374
    Join date : 2014-02-28

    Budget: No terrors to the small man-Ravi Empty Re: Budget: No terrors to the small man-Ravi

    Post by yaka Thu Nov 05, 2015 1:45 pm

    isn't what he says is contradictory.(or am I understanding wrong)

    at one time he says we need FDI, then he says we can go even without big foreign investor s.

    and also heard about tax base expansion..

    and most interestingly everyone is going to have file now.... Laughing
    avatar
    yellow knife
    Top contributor
    Top contributor


    Posts : 6980
    Join date : 2014-03-27

    Budget: No terrors to the small man-Ravi Empty Re: Budget: No terrors to the small man-Ravi

    Post by yellow knife Thu Nov 05, 2015 1:55 pm

    FDI s this is one miracle many poor nations believe...

    They are sold a concept that to develop you need FDIs..

    They are sold a concept that FDIs flow to where you have democracy...

    Just keep on believing them...

    Sponsored content


    Budget: No terrors to the small man-Ravi Empty Re: Budget: No terrors to the small man-Ravi

    Post by Sponsored content


      Current date/time is Tue Dec 10, 2024 2:27 pm