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CIMA organizes tax update on recent developments in tax arena

25 September 2016 07:48 pm - 0     - {{hitsCtrl.values.hits}}

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The Chartered Institute of Management Accountants (CIMA) Sri Lanka has organised a seminar titled “Tax Update – Recent Development on VAT and Other taxes” to be held at CIMA Sri Lanka Auditorium  on September 29th from 8.30 am to  12.00 noon. 


This event is structured to shed light on the recent bills published in the Gazette to introduce amendments to certain tax statutes. The presentation on proposed amendments and the impact of such amendments will be delivered by Suresh R I Perera, Principal – Tax & Regulatory, KPMG. The presentation would cover proposed amendments in the VAT Act on rates to be applied during the year 2016, VAT threshold, format of VAT invoice, VAT compliance including filing VAT Returns and exemptions from VAT etc, changes proposed in the Nation Building Tax in relation to changes in threshold and exemptions, Port and Airport Development Levy and the Land (Restriction on Alienation) Act.


These tax changes would impact all business sectors including real estate, wholeand retail sale, service sectors including financial services, manufacturing and export sectors. 
The presentation will be followed by a panel discussion with eminent personalities from the business sector. The panel would include Sanjeewa Samaranayake   - Chief Financial Officer – Hemas Group, Thamesh Fernando - Group Chief Financial Officer – Expolanka Holding. The session will be moderated by Rifka Ziyard – Senior Manager, Tax & Regulatory, KPMG.


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