Finance Act No. 5 of 2005 was enacted with effect from 01.01.2005 to charge a levy on share transactions taking place in the stock exchange. The rate applicable is 0.2% on the seller on disposal value of the share and the 0.2% on the buyer on the purchase value of the share. As this is purely based on the transaction taking place in the stock exchange, revenue generated under this Act fluctuates in accordance with the volume of the share market dealings. From 2011 01.01 the rate is 0.3%.
Inland Revenue Department, Sri Lanka,
Chittampalam A. Gardiner Mawatha, Colombo 02.
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