COLOMBO: The KPMG Sri Lanka Academy will conduct the Virtual Assembly on “Dissecting the Inland Revenue Amendment Bill 2022” once again at the request of many at 3pm on October 27.
Significant changes are introduced to the Income Tax Law in the much-awaited Bill to Amend the Inland Revenue Act which was published in the Gazette on 11th October.
The proposals in the Bill effect both individuals, corporates, Trusts, Unit Trust, Mutual Funds and NGO’s. The Income rates are revised with the intention of enhancing direct tax composition to more than 20% of the total Government tax revenue. Currently 80% of the tax revenue is collected via indirect taxes.
This webinar will shed light on the latest changes to the Income Tax and Withholding Tax regime and the presenters will discuss on finer points that one needs to consider in understanding the impact stemming from these proposed changes. Sri Lanka’s standard corporate tax rate will be increased to 30% while the personal income tax rates are proposed to range from 6 to 36%. The Bill stipulates three distinct dates on which the new amendments will attain the force of law. Some provisions are retrospective.
The session will be conducted by Mr. Suresh Perera – Principal, Ms. Rifka Ziyard – Director and Ms. Hasna Hassan – Director, Tax and Regulatory at KPMG Sri Lanka from 3.00 to 5.00 PM on Thursday 27th October.
For registrations contact Seneli on 0774446649 or [email protected]