Budget 2016

sashimaal wrote:Customs says all proposals of the 2016 Budget that include taxation to come into effect from midnight today.

HAL9000 wrote:

Future123 wrote:Just catching up with the budget as I was occupied with various things.

This is totally a different budget from the interim budget. An investor friendly and people's friendly budget. What a change from RK? Devil is not so black as he is painted. All I wanted to see is our country progressing and people progressing.

I was browsing the budget speech key notes and highlighted some important points. Some +++++
1) No land tax for foreigners - Must be favourable to JKH as their new project waterfront would benefit from this. OSEA also would benefit
2) Revised corporate taxes of 15% (Except banks, Finance companies, insurance, betting, gaming, liquor and tobacco. These are taxed at 30%). We can expect better dividends from the companies in future.
3) Tons of positive measures for export companies
4) Finance companies will have massive benefits after 1 June 2016. The banks will not be allowed to carry out leasing and a limitation for pawning (5% of total lending).
5) A lot for the agriculture sector
6) Share transaction levy abolished

Some negatives
1) Reduction of exemption limit for VAT to 12 million a year. Many small businesses will get caught
2) Banks are affected in many ways. No lease after 1 June 2016, Compulsory loans to agri sector
3) Vehicle owners are affected
4) 2% increase in corporate tax for some businesses
5) Tile sector removed from BOI negative list. Not sure how this would affect LWL and RCL. I have warned months ago about this.
6) NBT increased to 4% from 2%

Thank God there is no Turnover tax due to lots of protests. I hope this budget would bring some positive energy to the market. Banking sector will go down and might affect the index but other sectors should do well.

The challenge is to put these development ideas into action.

http://www.lankabusinessonline.com/live-budget-2016-coverage-proposals-and-full-speech/

But you told us throughout 24 hours that ,more and more super gain taxes, revenge and punish investors stories bla bla.. few days back ne! You told us to stay away from blue chips ne. What if somebody has sold his portfolio by reading your posts. Now it's obious that massive reduction of corporate tax , abolishing VAT for retail business Definetely gonna do a big positive impact. At least now you should avoid telling nonsense reapetedly and talk with some sense for the sake of many forum uses  specially new comers.

balapas wrote:Apart from that vehicle permits have been abolished. There was a big informal market for these. People used to sell their permits to UML, Stafford, Softlogic etc. According to Ravi 30bn annual loss to SL because of this.

Therefore reduction in imports while increase in prices can be observed. Vehicle prices specially the hybrid ones went up couple of months ago but again reduced due to changes in custom valuations. A real roller coaster story for this market till the govt finalize what they want to do.    

Future123 wrote:

HAL9000 wrote:

Future123 wrote:Just catching up with the budget as I was occupied with various things.

This is totally a different budget from the interim budget. An investor friendly and people's friendly budget. What a change from RK? Devil is not so black as he is painted. All I wanted to see is our country progressing and people progressing.

I was browsing the budget speech key notes and highlighted some important points. Some +++++
1) No land tax for foreigners - Must be favourable to JKH as their new project waterfront would benefit from this. OSEA also would benefit
2) Revised corporate taxes of 15% (Except banks, Finance companies, insurance, betting, gaming, liquor and tobacco. These are taxed at 30%). We can expect better dividends from the companies in future.
3) Tons of positive measures for export companies
4) Finance companies will have massive benefits after 1 June 2016. The banks will not be allowed to carry out leasing and a limitation for pawning (5% of total lending).
5) A lot for the agriculture sector
6) Share transaction levy abolished

Some negatives
1) Reduction of exemption limit for VAT to 12 million a year. Many small businesses will get caught
2) Banks are affected in many ways. No lease after 1 June 2016, Compulsory loans to agri sector
3) Vehicle owners are affected
4) 2% increase in corporate tax for some businesses
5) Tile sector removed from BOI negative list. Not sure how this would affect LWL and RCL. I have warned months ago about this.
6) NBT increased to 4% from 2%

Thank God there is no Turnover tax due to lots of protests. I hope this budget would bring some positive energy to the market. Banking sector will go down and might affect the index but other sectors should do well.

The challenge is to put these development ideas into action.

http://www.lankabusinessonline.com/live-budget-2016-coverage-proposals-and-full-speech/

But you told us throughout 24 hours that ,more and more super gain taxes, revenge and punish investors stories bla bla.. few days back ne! You told us to stay away from blue chips ne. What if somebody has sold his portfolio by reading your posts. Now it's obious that massive reduction of corporate tax , abolishing VAT for retail business Definetely gonna do a big positive impact. At least now you should avoid telling nonsense reapetedly and talk with some sense for the sake of many forum uses  specially new comers.

HAL my friend, Why are you angry on me? I'm not biased towards any political party. All I told was that I will buy new shares after the budget. Now we know exactly what to buy and what not to buy.

I sold my short term holdings such as BFL,  TAFL, GRAN with good profit due to market sentiment and EPF selling. I was recommending TJL and REXP some time back. Both have appreciated over 40%. Still you will see price appreciation in these counters as export companies benefit from rupee depreciation and positive government policies. When I told sometime back avoid blue chips that also happened. COMB declined from 170 to 150, HNB 228 to 217, JKH too went down to 168 and bounced back.

Now we need to look at the market with fresh mind sets. The same RK who scolded all the blue chips now reduced the corporate tax. The government also knows that the economy is at a mess and they can't punish the private sector more.

Now we focus on some good shares to make some money. There is absolutely no point in accusing anyone. Everyone has a right to express their view.

Enjoy the market HAL. Share your ideas. What shares would outperform in the coming quarter?

Market lover wrote:

Future123 wrote:

HAL9000 wrote:

Future123 wrote:Just catching up with the budget as I was occupied with various things.

This is totally a different budget from the interim budget. An investor friendly and people's friendly budget. What a change from RK? Devil is not so black as he is painted. All I wanted to see is our country progressing and people progressing.

I was browsing the budget speech key notes and highlighted some important points. Some +++++
1) No land tax for foreigners - Must be favourable to JKH as their new project waterfront would benefit from this. OSEA also would benefit
2) Revised corporate taxes of 15% (Except banks, Finance companies, insurance, betting, gaming, liquor and tobacco. These are taxed at 30%). We can expect better dividends from the companies in future.
3) Tons of positive measures for export companies
4) Finance companies will have massive benefits after 1 June 2016. The banks will not be allowed to carry out leasing and a limitation for pawning (5% of total lending).
5) A lot for the agriculture sector
6) Share transaction levy abolished

Some negatives
1) Reduction of exemption limit for VAT to 12 million a year. Many small businesses will get caught
2) Banks are affected in many ways. No lease after 1 June 2016, Compulsory loans to agri sector
3) Vehicle owners are affected
4) 2% increase in corporate tax for some businesses
5) Tile sector removed from BOI negative list. Not sure how this would affect LWL and RCL. I have warned months ago about this.
6) NBT increased to 4% from 2%

Thank God there is no Turnover tax due to lots of protests. I hope this budget would bring some positive energy to the market. Banking sector will go down and might affect the index but other sectors should do well.

The challenge is to put these development ideas into action.

http://www.lankabusinessonline.com/live-budget-2016-coverage-proposals-and-full-speech/

But you told us throughout 24 hours that ,more and more super gain taxes, revenge and punish investors stories bla bla.. few days back ne! You told us to stay away from blue chips ne. What if somebody has sold his portfolio by reading your posts. Now it's obious that massive reduction of corporate tax , abolishing VAT for retail business Definetely gonna do a big positive impact. At least now you should avoid telling nonsense reapetedly and talk with some sense for the sake of many forum uses  specially new comers.

HAL my friend, Why are you angry on me? I'm not biased towards any political party. All I told was that I will buy new shares after the budget. Now we know exactly what to buy and what not to buy.

I sold my short term holdings such as BFL,  TAFL, GRAN with good profit due to market sentiment and EPF selling. I was recommending TJL and REXP some time back. Both have appreciated over 40%. Still you will see price appreciation in these counters as export companies benefit from rupee depreciation and positive government policies. When I told sometime back avoid blue chips that also happened. COMB declined from 170 to 150, HNB 228 to 217, JKH too went down to 168 and bounced back.

Now we need to look at the market with fresh mind sets. The same RK who scolded all the blue chips now reduced the corporate tax. The government also knows that the economy is at a mess and they can't punish the private sector more.

Now we focus on some good shares to make some money. There is absolutely no point in accusing anyone. Everyone has a right to express their view.

Enjoy the market HAL. Share your ideas. What shares would outperform in the coming quarter?

Sounds like a pansaley hamuduruwo now as if u havent done anything

Dhannawanam oyawa ape Katina Perahera pansaley bana kiyanda ekkang yanawa