The Colombo Stock Exchange’s (CSE) plans to set up a separate trading board for Small and Medium Enterprises (SME) have come up with a snag involving taxation by the recent budget.
Officials said that the recent budget proposal to raise the annual registration fee of public quoted companies is a dampener on SME vying to list on the CSE.
“If not listed, the Registrar of Company’s annual fee is Rs. 60,000. The Rs. 500,000 is a deterrent for SME to go public,” a SME owner told the Business Times.
The CSE has made some representations to the Treasury requesting for a waiver, but they’re yet to get a response.
www.sundaytimes.lk
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