Monday, June 4, 2018

Shares close lower amid CGT dispute

Share market today closed lower as talks between investors and government on newly implemented in Capital Gains Tax (CGT) ended inconclusively.
The government-issued circular yesterday changing calculation method on bonus and right shares of capital gain tax, which according to them has increased tax liability for them. In some cases, investors are liable to pay CGT even when a transaction is closed with loss, the investors claim.
The market turned volatile during today's trading as the index swung back and forth around the 1,270-point mark. At the end of the trading hour, the index was down by 5.11 points to close the market at 1,268.84 points as shares worth Rs 424 million changed hands
The Others sub index gained over 3 per cent but all the major sub indices logged losses on the day.

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