Saturday, July 27

Tag: CSE

Financial, industrial stocks raise Sri Lankan shares about 1% higher
20Jan By AuthorNo Comments
Banking and Insurance, Business, Equity Market

Financial, industrial stocks raise Sri Lankan shares about 1% higher

(Reuters) - Sri Lankan shares ended nearly 1% higher on Wednesday, boosted by financial and industrial stocks. The benchmark stock index ended up 0.97% at 7,884.45. The index has now notched 15 sessions of gains out of 16 sessions. Trading volume on the CSE All Share Index fell to 287.96 million from 690.06 million in the previous session. The Equity market turnover was at Rs 9.37 billion, exchange data showed. Holding company Hayleys Plc and investment company Vallibel One Plc were the top boosts to the index, gaining 14.5% and 10.1%, respectively. However, foreign investors were net sellers, offloading Rs. 774.2 million ($3.97 million) worth of shares, according to exchange data.  India’s foreign ministry on Tuesday announced that COVID-19 vaccine shipments to Sri Lanka...
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The government to offer tax concessions for investments in REITs
18Nov By AuthorNo Comments
Business, Economy, Real-Estate, Taxation

The government to offer tax concessions for investments in REITs

The government plans to exempt investments in the housing market through Sri Lanka Real Estate Investment Trusts (SLREIT) to be exempted from capital gains tax and reduce stamp duty up to 0.75 percent from the current stamp duty of 4 percent. The measures proposed in the budget 2021 to prmote SLREIT to attract investments into Sri Lanka's Real-estate market. It is proposed to simplify taxes on capital gains, where such taxes will be calculated based on the sale price of a property or the assessed value of a property, whichever is higher. The Dividends are also to be free from Income Tax. The Securities and Exchange Commission of Sri Lanka (SEC) published Rules of SLREIT the Gazette on 31st July 2020.
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