Revision of Application Fees for Entities Licensed/Registered by the Securities and Exchange Commission of Sri Lanka

SEC SECURITIES AND EXCHANGE COMMISSION OF SRI LANKA ශ්රී ලංකා සුරැකුම්පත් හා විනිමය කොමිෂන් සභාව இலங்கை பிணையங்கள் மற்றும் பரிவர்த்தனை ஆணைக்குழு

By Hand/ Registered Post/ Fax
Ref: SEC/DG/2015/07/51

10th July 2015

TO: ALL ENTITIES LICENCED /REGISTERED BY THE SECURITIES AND EXCHANGE COMMISSION OF SRI LANKA

RE: REVISION OF APPLICATION FEES FOR ENTITIES LICENCED/REGISTERED BY THE SECURITIES AND EXCHANGE COMMISSION OF SRI LANKA

The Securities and Exchange Commission of Sri Lanka (SEC) writes to inform you that pursuant to Circular No: SEC/Stamp Duty/2015/03 dated 21st April 2015 issued by the Department of Inland Revenue in accordance with Gazette No. 1789/9 dated 17th December 2012 and Stamp Duty (Special Provisions) Act No.12 of 2006, the stamp duty applicable to licenced entities of SEC would amount to Rs. 2000/- or 10% of the licence/registration fee whichever is less.

Further the Value Added Tax (VAT) applicable to entities licenced/registered by the SEC has been reduced from 12% to 11% following the amendments to the law consequent to the Budget 2015.

Please note that these fees will be applicable to all entities which are to be licenced /registered or such licences or registrations that are to be renewed by SEC with effect from 01st July 2015.

#	Category	Frequency	Current Fee (LKR)	VAT at 11% (LKR)	Stamp Duty (LKR)	Total Payable (LKR)
1)	Stock Exchange	Every 5 years	250,000/-	27,500/-	2,000/-	279,500/-
2)	Stock Broker	Annually	40,000/-	4,400/-	2,000/-	46,400/-
3)	Stock Dealer	Annually	40,000/-	4,400/-	2,000/-	46,400/-
4)	Stock Broker and Stock Dealer	Annually	75,000/-	8,250/-	4,000/-	87,250/-
5)	Investment Manager	Annually	15,000/-	1,650/-	1,500/-	18,150/-
6)	Margin Provider	Annually	25,000/-	2,750/-	2,000/-	29,750/-
7)	Credit Rating Agency	Annually	40,000/-	4,400/-	2,000/-	46,400/-
8)	Underwriter	Annually	25,000/-	2,750/-	2,000/-	29,750/-
9)	Clearing House	Annually	25,000/-	2,750/-	2,000/-	29,750/-
10)	Managing Companies of Unit Trusts	Per Fund Registration Only	100,000/-	11,000/-	-	111,000/-

Yours faithfully,

Vajira Wijegunawardane
DIRECTOR GENERAL

IJ/s

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