KPMG to host trade and customs seminar

KPMG will host a seminar on “Customs Valuation, 2017 Amendments to H.S Codes and Foreign Exchange Impact on International Trade” on May 19th at the Movenpick Hotel, Colombo 3, from 9.00 a.m. to 12.15 p.m. 
The strategic focus of the seminar is to provide an overview of Customs valuation rules, provisions on enforcement, practical applications and valuation dispute settlement. 
Customs valuation rules are based on General Agreement on Tariffs and Trade (GATT) for purposes of Customs. Sri Lankan importers have experienced many dynamics in relation to motor vehicle imports.
The world’s global standard for classifying goods in international trade i.e. the H.S Nomenclature; 2017 Edition will come into force in May 2017 in Sri Lanka. The main objective of the seminar is to create awareness on the recent amendments to H.S Code classifications and its impact on admissibility of goods, duties payable and eligibility for differential treatment under different trade agreements. The 2017 Edition of H.S Nomenclature includes amendments to the agriculture, construction and transport sectors.
The seminar will cover current implications and recent developments in relation to foreign exchange rules. 
Presentations will be delivered by Suresh R. I. Perera, Principal - Tax & Regulatory, KPMG and M. Ravindrakumar, Consultant – Tax & Regulatory, KPMG. 
Suresh R. I. Perera, is an Attorney-at-Law and a Fellow Member of the Chartered Institute of Management Accountants. 
M. Ravindrakumar, a former Director at Sri Lanka Customs, has more than 38 years of experience. He is a WCO Accredited Expert Trainer in Customs Valuation and Post Clearance Audit.