KPMG Academy hosts virtual session on ‘Recent Amending Acts’ | Daily News

KPMG Academy hosts virtual session on ‘Recent Amending Acts’

The KPMG Academy enlightens decision makers on “Recent Amending Acts, Bills and Pending Amendments to the Tax Statutes” at the Friday Mid-Afternoon Chat on November 6, 2020.

In less than a year the Tax Regime in Sri Lanka has witnessed many changes via web notices. In order to provide legal enforceability to such changes few Amending Statutes were passed including publishing of Bills and Gazettes.

The abolishment of Nation Building Tax (NBT), Economic Service Charge (ESC) and Debt Repayment Levy (DRL) have been incorporated in Nation Building Tax (Amendment) Act no. 03 of 2020, Economic Service Charge Act no. 02 of 2020. This seminar will focus on the transitional and closure issues with regard to NBT, ESC and DRL. Value Added Tax (VAT) has changed drastically during the past year and the Bill is yet to be approved by the Parliament. This webinar will shed light on the aspects which will have to be considered by businesses.

Also, it is important that the companies and individuals give due considerations on the second installment payment which is falling due on November 15 as delaying payments will result in serious consequences.

The government has been cautiously dealing with the exchange rate fluctuations.

A measure for the stabilizing the exchange rate, certain restrictions were imposed on the importation.

The session will be conducted by Suresh Perera, Principal – Tax and Regulatory, a renowned tax professional who will disseminate all the new changes during the past months along with Radhini Thomas, Senior Manager – Tax and Regulatory of KPMG.

More details and registrations could be done through [email protected]