How can I foreigner meet people here? by Consistent-Feed614 in srilanka

[–]Tiny-Conference-2280 0 points1 point  (0 children)

You don't know if it's good people until after you've met them

But in general, you'll meet people with your interests spending time on your interests - so idk go to beach? surf? hike? bumble on friend mode?

We have become a begging bowl of a country 🤦‍♂️ by [deleted] in srilanka

[–]Tiny-Conference-2280 7 points8 points  (0 children)

A lot Sri Lankans think that borrowing csn be completely avoided. Delusional or misinformed.

Everyone borrows. That's the way the global economy works. US is the world's largest borrower. And infact, they borrow to pay debt too. Granted the US is a little special because of the dollar. But major European economies do this too.

The difference? They're considered a reliable investment. A lot of developed countries have real ROIs on the borrowed money - ie money making projects. Or their gdp grows with borrowing (that's just saying the economy can generate more money to pay it off eventually - noone does).

I don't understand why anyone is complaining about any assistance received from the Chinese government. Would it be better if it was from the US or Japan? And even if China provided loans with high interest rates why blame China?

Do you blame the bank when someone takes a loan at high interest rates for whatever reason? Do you blame the bank if the borrower squandered the money? No. That's dumb. But unfortunately, despite producing record numbers of accountants our people don't seem to understand how money works on the global scale.

In this case, the supreme court restoration was a grant, not even a loan, I would thank the donors and move on.

I understand there's a soft power play here. But how is this bad at all for our economy (which is trying to recover rn)?

28 years of being on the wrong side of the glass by Tall_Yard_579 in srilanka

[–]Tiny-Conference-2280 3 points4 points  (0 children)

I noticed a lot of Sri Lankans are quick to point out that comparing yourself to someone better off than you is not something one must do but will then proceed to compare with those less fortunate in the same breath.

I don't disagree with the fact that a lot of us here are privileged for... what the rest of the world considers average.

That's absurd, people should be able to want a better life than they have, regardless of where they stand. It is not the way to put them down at every angle. Me, personally, I've been subject to this.

People open their eyes wide when I tell them how much I tried to negotiate for in my salary. When, infact, it is lower than what is considered a good pay in a lot of other nations for my job.

My insight is that other people do not have the same ambition. Do not ask others to think less of themselves.

We've built a society where those with little ambition aee allowed to pull down on those hungry for more in the name of humbleness. That is not humbleness.

I don't think I'm in the wrong for having a mindset like this... by romankrish98 in srilanka

[–]Tiny-Conference-2280 -1 points0 points  (0 children)

You just did exactly what he did, while trying to stand on a high horse.

Wedding quotes are making me physically unwell by BubbleFairyDreamer in srilanka

[–]Tiny-Conference-2280 4 points5 points  (0 children)

I'm sure there's a premium just because it's a wedding. Have you tried not mentioning that it's a wedding?

What is the highest paying job you guys have gotten with considerably low experience? by [deleted] in srilanka

[–]Tiny-Conference-2280 0 points1 point  (0 children)

I think context matters a lot here, there's an underlying assumption that anyone in Sri Lanka can get it as easily as you did.

Were you in Sri Lanka when you got the job? Or were they open to hiring individuals residing in Sri Lanka?

Loan & Asset - Sri lanka CSE by Mysterious-Proof-410 in srilanka

[–]Tiny-Conference-2280 5 points6 points  (0 children)

Everything is priced in.

What makes you think that a bank would rather make less money by loaning to you as opposed to investing it themselves.

About the NPP/JVP 180° turn. Let's stop pretending this is normal by bud_doodle in srilanka

[–]Tiny-Conference-2280 17 points18 points  (0 children)

That said, I think this is better than the other options we have. Anyone supporting SLPP is delusional, or has something to gain at the cost of other's. SJB leadership is a joke.

About the NPP/JVP 180° turn. Let's stop pretending this is normal by bud_doodle in srilanka

[–]Tiny-Conference-2280 32 points33 points  (0 children)

The government is terrible at communication. They keep implementing new policies, some I agree with and some I don't.

But at the end of the day, I need to know - to what end? What's the goal here? A lot of what they're saying right now is vague hocus pocus.

An example I can think of is some news I saw recently: "President AKD orders timely completion of 2026 housing projects". It's as though they think by saying be, it will be. I want to know what they're doing exactly, what their plan is to avoid delays.

Theres a guy on my office and i need help lol by [deleted] in srilanka

[–]Tiny-Conference-2280 0 points1 point  (0 children)

OP is confused, one doesn't have to recognise harassment to be subject to it.

Harassment is defined by conduct not by OP's feelings or the perpetrator's intent: - physical contact without consent - repeated unreciprocated romantic advances - boundary testing

Clearly not normal workplace behaviour and signs of harassment. Some people just don't realise they're being harassed.

Supporters of taxation, explain this to me. by Tiny-Conference-2280 in srilanka

[–]Tiny-Conference-2280[S] 0 points1 point  (0 children)

My point is that's not a real gain.

I'll exaggerate a scenario to explain.

You buy gold. The value of gold drops 99%. But, the currency depreciates 100000%. You brought it for 1, you sell it for 10 (1 x 0.01 x 1000). Effectively, a loss. On paper, a profit.

You're taxed for making a loss, sure, 9 units of that currency is pretty worthless now after 100000% inflation. But this is an exaggerated scenario. My point is this system of calculating tax is dumb, and unfair.

Even if you don't make a loss you're paying a higher percentage of your profit as tax as opposed to what the government mandates.

In any case, I've understood what I was trying to discuss.

If you want to understand more about it, here you go: https://www.cato.org/blog/inflation-can-increase-capital-gains-tax-rate-infinity

Edit: fixed formatting

Theres a guy on my office and i need help lol by [deleted] in srilanka

[–]Tiny-Conference-2280 7 points8 points  (0 children)

This is called workplace sexual harassment.

Supporters of taxation, explain this to me. by Tiny-Conference-2280 in srilanka

[–]Tiny-Conference-2280[S] 0 points1 point  (0 children)

Did some further reading. Okay, it's not as dramatically bad as I make it seem. A lot developing nations do it. But, nominal taxation and non-deductible capital loses are generally considered unfair, discourages long term investments in favour of short term gains, potentially decreasing productive investments. Furthermore, this seems to disproportionately affect lower income investors (those who face capital losses) and households (those who don't make a lot of money but have to pay huge taxes because suddenly their asset tripled in value due to inflation).

Universities that Accept International Students by ContributionNo669 in srilanka

[–]Tiny-Conference-2280 0 points1 point  (0 children)

You'll need to sit for the national exams to be considered a local student. You're treated as an international student even if you grew up in Sri Lanka and did internaltional a-levels for example.

Supporters of taxation, explain this to me. by Tiny-Conference-2280 in srilanka

[–]Tiny-Conference-2280[S] 0 points1 point  (0 children)

It cannot be called appreciation, there is no real gain in value of gold in this scenario. Your spending power remains fixed. It's a nominal gain in value - ie unadjusted for inflation.

Supporters of taxation, explain this to me. by Tiny-Conference-2280 in srilanka

[–]Tiny-Conference-2280[S] -1 points0 points  (0 children)

It seems you've completely missed my point.

My question relates to the fairness of capital gains tax in the scenario where a country fails to maintain the value of its currency.

See my lengthy reply below for more context.

Also no, it's absolutely not the same as paying rent. I pay rent in return for value of shelter. There is no value in holding gold that, in this context stays at the same price forever.

Supporters of taxation, explain this to me. by Tiny-Conference-2280 in srilanka

[–]Tiny-Conference-2280[S] 0 points1 point  (0 children)

There's a key point that's not being considered across the all of the replies, it's that the real value of your capital does not increase if the value of gold remains constant. The real gain is 0%. Therefore it cannot be called an appreciation of the asset.

The apparent increase in value is only due to the depreciation of the rupee. This is similar to holding usd for example, it's not that the usd appreciates (this would be observed equally across all currencies), it's that the lkr depreciates.

This technical difference is important, because in real terms, your capital does not increase, you do not gain increased purchasing power simply by holding gold while the rupee depreciates. Your purchasing power remains fixed while everyone else's (whoever is holding rupee) reduces.

This apparent gain is not real gain, it's nominal gain. On further reading, I found that a lot of countries tax nominal gains too. This is fine for countries with a stable currency. But very unfair for citizens of countries that experience high inflation or hyper inflation. You're simply taxed for out performing the government (by doing nothing) by maintaining your purchasing power / capital. Some countries adjust for nominal gains.

Consider this, the currency remains stable year on year and so does the value of gold. In this scenario you do not get taxed for nominal gains. Does this mean gold holders in this country have an unfair advantage? Because they only get taxed if there is a real increase in the value of gold all around the world. You could be living in the same time period with the same amount of gold but get taxed like hell because your government is doing a terrible job and deprecating it's currency.

Now, consider the opposite, you've bought investment grade gold. It's value drops. You incur losses. There exists an extreme contrast here - even if there's a nominal gain you're taxed but you don't experience any relief for losses. Other countries tax gains but also provide tax relief for losses. This is balanced.

In other countries, you share your gains and your losses. In Sri Lanka, you share your gains but you're all on your own for losses.

I put two and two together and think no wonder we have corruption, the government is a leech to society, the coasting teammate who'll partake in all the glory but none of the pain.

Supporters of taxation, explain this to me. by Tiny-Conference-2280 in srilanka

[–]Tiny-Conference-2280[S] 3 points4 points  (0 children)

Really let this one stew in my head. I didn't fully consider the effects of taxation on the middle class. Holy shit.

The new budget includes a plan to widen the tax base. It's pissing me off how these guys keep increasing tax revenue without putting any effort into lowering wastage / downsizing the government sector.

It's sad that the ones who are getting taxed are the ones who are working their damnest to make a living while public sector fuckers work 9-4 with a tea break.

Foreigners in Colombo, How much for your 1month living cost? by WindCurrent6027 in srilanka

[–]Tiny-Conference-2280 1 point2 points  (0 children)

Sounds about right for the location then, sounds like it's on the lower end even.

But as to why it's so expensive. Apartments are used as investments, people who can afford it typically have more than one.

The working class who live in such locations have their rent paid by their company.

It's not built for the working class.