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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

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+3
sashimaal
HAL9000
balapas
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    Budget 2016 - Share transaction cost to reduce

    balapas
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    • Post n°1

    Budget 2016 - Share transaction cost to reduce Empty Budget 2016 - Share transaction cost to reduce

    Post by balapas Fri Nov 20, 2015 7:53 pm

    Important for the forum

    " 287 . At the same time, the Share Transaction Levy which charges 0.3 percent from the buyer and seller on each share transaction will be removed with a view of encouraging activities in the share market so as to boost the sagging movement of share transactions. Further, as an additional measure, the stamp duty on share certificates will also be removed. "

    Apart from the price reductions best for me was removing the stamp duty on credit cards. Bad thing is two hours ago bought two AC's so may not get the benefits for them. However for foreign purchases it has been increased to 2.5%.

    Read the full speech here

    http://www.treasury.gov.lk/images/depts/fpd/docs/budgetspeech/2016/bgtspeech2016E.pdf
    • Back to top
    HAL9000
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    • Post n°2

    Budget 2016 - Share transaction cost to reduce Empty Re: Budget 2016 - Share transaction cost to reduce

    Post by HAL9000 Fri Nov 20, 2015 8:02 pm

    Good, at least for the crying babies babbling 24 hours about revenge investors, punish, angry etc etc Razz Razz Razz
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    sashimaal
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    • Post n°3

    Budget 2016 - Share transaction cost to reduce Empty Re: Budget 2016 - Share transaction cost to reduce

    Post by sashimaal Fri Nov 20, 2015 8:05 pm

    lol!

    HAL9000 wrote:Good, at least for the crying babies babbling 24 hours about revenge investors, punish, angry etc etc Razz Razz Razz
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    tharindufit
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    • Post n°4

    Budget 2016 - Share transaction cost to reduce Empty Re: Budget 2016 - Share transaction cost to reduce

    Post by tharindufit Fri Nov 20, 2015 8:15 pm

    Okay. Who said this budget is not investor friendly? :-)

    260. Today banks are not keen to lend to certain important sectors of the economy, which has
    hampered the growth of these sectors. In this background, I propose that all the banks
    should lend at least 10 percent of their loan portfolio to Agriculture, 5 percent to SME and
    5 percent to Women and Youth. Given the impact the international gold prices has had on
    the local banks specially with large pawning portfolios, I urge the banking sector to limit
    their pawning business to a maximum of 5 percent of their loan portfolios. Further, I
    encourage Banks to lend to customers who are engaging in stock market activities.

    284. Honourable Speaker, this government is committed to creating the enabling environment in
    which the stock market can operate efficiently and effectively. A proper regulatory
    framework is the key in facilitating growth in the stock market. As such, it is proposed that
    Securities and Exchange Act be revised to address the regulatory deficiencies in the market.

    287. At the same time, the Share Transaction Levy which charges 0.3 percent from the buyer and
    seller on each share transaction will be removed with a view of encouraging activities in the share market so as to boost the sagging movement of share transactions. Further, as an
    additional measure, the stamp duty on share certificates will also be removed.

    288. Honourable Speaker, volatility in the stock market has resulted in many of the stock brokers
    facing significant issues. It would appear that the sustainability of stock brokers themselves
    is important in ensuring the long term development of the Capital markets. As such, I
    encourage the Stock Brokers to merge to strengthen their capacities and capabilities.
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    sashimaal
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    • Post n°5

    Budget 2016 - Share transaction cost to reduce Empty Re: Budget 2016 - Share transaction cost to reduce

    Post by sashimaal Fri Nov 20, 2015 8:17 pm

    Thanks Bala Smile

    ACs - Transaction day or billed day counts? also these laws are applicable immediately?

    balapas wrote:Important for the forum

    " 287 . At the same time, the Share Transaction Levy which charges 0.3 percent from the buyer and seller on each share transaction will be removed with a view of encouraging activities in the share market so as to boost the sagging movement of share transactions. Further, as an additional measure, the stamp duty on share certificates will also be removed. "

    Apart from the price reductions best for me was removing the stamp duty on credit cards. Bad thing is two hours ago bought two AC's so may not get the benefits for them. However for foreign purchases it has been increased to 2.5%.

    Read the full speech here

    http://www.treasury.gov.lk/images/depts/fpd/docs/budgetspeech/2016/bgtspeech2016E.pdf


    Last edited by sashimaal on Fri Nov 20, 2015 8:23 pm; edited 1 time in total
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    NC`
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    • Post n°6

    Budget 2016 - Share transaction cost to reduce Empty Re: Budget 2016 - Share transaction cost to reduce

    Post by NC` Fri Nov 20, 2015 8:19 pm

    Very Happy Chrz
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    HUNTER
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    • Post n°7

    Budget 2016 - Share transaction cost to reduce Empty Re: Budget 2016 - Share transaction cost to reduce

    Post by HUNTER Fri Nov 20, 2015 9:10 pm

    Good move.

    How about reducing the broker commission also by half.

    That way, I am sure brokers will get more revenue by the increased number of transactions.

    At least they can do it on trial basis for few months and see.
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    Jana1
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    • Post n°8

    Budget 2016 - Share transaction cost to reduce Empty Re: Budget 2016 - Share transaction cost to reduce

    Post by Jana1 Sat Nov 21, 2015 2:37 am

    HUNTER wrote:Good move.

    How about reducing the broker commission also by half.


    I would love to see that....
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    • Post n°9

    Budget 2016 - Share transaction cost to reduce Empty Re: Budget 2016 - Share transaction cost to reduce

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