Revision of Value Added Tax on Application Fees for Entities Licensed or Registered by the Securities and Exchange Commission of Sri Lanka

SEC | SECURITIES AND EXCHANGE COMMISSION OF SRI LANKA

Ref: SEC/FAD/16/12/539

By Hand/ Registered Post/ Fax

12th December 2016

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

REVISION OF VALUE ADDED TAX ON 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 the Value Added Tax (VAT) rate applicable to entities licenced/registered by the SEC is 15% with effect from 01st November 2016 and the fee structure along with the applicable taxes is as follows.

#	Category	Frequency	Fee	VAT at 15%	Stamp Duty	Total Payable
1	Stock Exchange	Every 5 years	250,000.00	37,500.00	2,000.00	289,500.00
2	Stock Broker	Annually	40,000.00	6,000.00	2,000.00	48,000.00
3	Stock Dealer	Annually	40,000.00	6,000.00	2,000.00	48,000.00
4	Stock Broker and Stock Dealer	Annually	75,000.00	11,250.00	4,000.00	90,250.00
5	Investment Manager	Annually	15,000.00	2,250.00	1,500.00	18,750.00
6	Margin Provider	Annually	25,000.00	3,750.00	2,000.00	30,750.00
7	Credit Rating Agency	Annually	40,000.00	6,000.00	2,000.00	48,000.00
8	Underwriter	Annually	25,000.00	3,750.00	2,000.00	30,750.00
9	Clearing House	Annually	25,000.00	3,750.00	2,000.00	30,750.00
10	Managing Companies of Unit Trusts	Per Fund Registration Only	100,000.00	15,000.00	0.00	115,000.00

Yours faithfully

Vajira Wijegunawardane
Director General
/yds

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