Flash Report /
Sri Lanka

Sri Lanka: Banking Sector - Budget 2022 impact

  • Tax surcharge proposed in budget 2022 similar to super gains tax in 2015

  • Accounting treatment not determined yet; 2015 SGT was only a balance sheet adjustment

  • Adjusting for the proposed one-off tax, we calculate an approx. 2%-4% impact on bank NAVs

Kavinda Perera
Kavinda Perera

Head of Research

Asia Securities
15 November 2021
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