Lanka Securities Morning Note 21 June 2015

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Lanka Securities Morning Note 21 June 2015

Post  Melissa Pereira on Wed Jul 22, 2015 11:09 am

Today:
Asian Alliance Insurance - Sub division - Period Of Dealings Suspension
Kegalle Plantations - XD date (LKR 45.00 per share)
ACL Plastics - Dividend payment date (LKR 4.00 per share)
Commercial Credit and Finance - Dividend payment date (LKR 1.00 per share)

....Sri Lanka needs to minimize tax exemptions to broaden tax base: Central Bank: Sri Lanka needs to minimize tax exemptions and improve direct taxation in order to broaden the tax base, Deputy Governor of the Central Bank said. “If you look at the tax exemptions, there are a large number of tax exemptions.” Deputy Governor Dr. Nandalal Weerasinghe said. “When you do tax reforms, there are lots of political pressures coming up asking various tax exemptions for this area and that area,” “Actually it is very difficult to broad base the tax system with that kind of policy. You should have firm policy and should stick to it,” Sri Lanka needs to simplify the tax system further and strengthen the tax administration to improve revenue collection. Further measures are to be introduced to reduce over dependence on indirect taxation, he said. Over the medium term Sri Lanka aims to increase
revenue to GDP ratio from current 11.6% of GDP to around 16%. Budget deficit in 2014 was 5.7% of GDP slightly higher than 5.4% recorded in 2013. “This was mainly due to low revenue mobilization during the period.” he said......
Please refer the link for more details- http://www.lsl.lk/pdf/research/morningnotes.pdf

Melissa Pereira

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