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Echelon Magazine - December 2016

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Echelon Magazine Description:

प्रकाशक: Capital-Media-(Pvt)-Ltd

वर्ग: Business

भाषा: English

आवृत्ति: Monthly

Intelligent Storytelling

The one thing that will define the Echelon magazine will be the quality of the storytelling. Echelon,published monthly, will cover in depth Sri Lanka’s most successful businesses, examine their winning strategiesand profile their leaders in immersive stories. Great stories are also never limited to words, and our approach includes rich photography, bold graphics and leading edge design which together will make for a compelling read.

But business doesn’t start and end in a boardroom;it extends to the golf club greens, to international travel and to pursuits that blurthe lines between commercial venture and sheer passion. The Echelon team will present the best in business and lifestyle coverage that will appeal to an exclusive and affluent readership: an otherwise hard to reach demographic.

Content will be developed by one of the most experienced and proven teams of editors, financial journalists, photographers and designers in the country.This team has already raised the bar for powerful and expertly crafted business news. Shamindra Kulamannage, will lead the editorial team.

The reputation of Echelon is being built on the separation between editorial and advertising. However we are also looking for the most creative and impactful new formats that can be applied in our magazines, iPad app as well as website to help our clients reach our audience. We are flexible and creative and we will have a solution for every single advertiser who wants to reach our audience.

We are passionate about creative results and about working with our advertisers to help them create bespoke multi platform creative solutions with our in house creative team and of course our sales team.

Echelon will be a great place to show off the products and capabilities of our clients because they will be surrounded by an editorial product that is expertly crafted, full of integrity and intelligence.

इस अंक में

A Capital Issue
Large differences in wealth tend to focus the debate on making the tax system more progressive. Sri Lanka’s anemic 16% of tax revenue contributed by taxing income focuses the debate on addressing this challenge. After scrapping taxes on capital gains decades ago, Sri Lanka re-introduced it from 2017 for gains on sales within 10 years of purchase.
Of course, taxing capital gains isn’t necessarily the place to start when looking for new revenue – not when Sri Lankan income tax dodging is so widespread, and the system inefficient and corrupt.
By taxing capital gains on real estate, the government expects to raise Rs5 billion in 2017 or just 0.27% of the forecast tax revenue for the year. Previously, the government claimed gains on stocks would also be taxed, but backed down in the face of lobbying by the capital markets. Investor behaviour is influenced by taxes on capital gains and they will now be closely watching developments.
No tax that is introduced under a dysfunctional tax administration will succeed wonderfully. However, putting those challenges aside for the moment, it is important to start considering the future of taxing gains. For the tax to make any sense and in the interest of a progress tax policy, it makes sense for Sri Lanka to widen the application of these taxes.
But the favourable treatment of capital gains – by not taking these or applying far lower rates than those charged on income – scores badly on the test of good fiscal policy. It complicates rather than simplifies the tax code. So, the natural progression may be to widen the types of capital gains taxed to include shares and other widely held assets. Of course, fixing the tax administration – as a priority – trumps all else.