The long waited budget speech held yesterday (13 July 2009) furnished investors outlook cheerful as the capital gain tax retreated from 15% to 10%. Previous government (UCPN-Moist) had levied 15% capital gain tax increasing from 10%. Thereafter the market which had attain the maximum height of around 1175 turned downward spiral taking clue of the issue to 717.46 till the date.
"Investors got what they were expecting for". The decrease in the capital gain tax will boost the investor's confidence in the secondary market. It is believed that, the recent bullish trend in Nepal Stock Exchange was buoyed by the optimism on rolled down of capital gain tax. The risk appetite of investors has been strong on buying outlook and the rolled down tax has kept the investor's perception positive on the stock market.
It is good news to all the investors on stock market that they have to pay less capital gain tax, which meant they have to pay less money to government out of their net profit on selling scrip. In fact, this will increase the confidence and triggered to perform the transaction in the equity market.
Source:Jamb news source
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Tuesday, July 14, 2009
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