Capital Trust Research - Budget Highlights 2013

sriranga Mon Nov 12, 2012 5:01 pm

Capital Trust Research - Budget Highlights 2013

Please find attached the highlights of the 2013 Budget. Following incentives were provided for the development of Capital Markets.

· 50% tax exemption for three years on newly listed companies with a minimum free float of 20%
· Exemption of withholding tax on interest income of corporate bonds and debentures listed at the CSE.
· Corporate tax on unit trust management services reduced from 28% to 10%
· Allow direct investment in foreign currencies in unit trusts by non-resident Sri Lankans
· 100% depreciation allowance for the setting up of broker back office systems, IT system improvements and branch establishment expenses
· Stamp duty on the transfer of stocks by any persons to a margin trading account and vice versa will be exempted
· To allow well established companies to list their debt (debentures or bonds) at the CSE to raise capital.

Attachments

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