COLOMBO: KPMG, in its continuing efforts to encapsulate a wide array of topics of relevance, is the Knowledge Partner for a webinar titled “The Role of Taxation in Economic Development” hosted by UTO EduConsult and scheduled to be held on the 22nd of February 2022, via Zoom. This event will feature Economists as well as luminaries from a cross-section of industries. Suresh Perera, Principal, Tax & Regulatory, KPMG, will make a formal presentation titled “Features of a good tax system and the evolution of taxation in Sri Lanka” as well as moderate the panel discussion that will follow the presentations. Perera, in his presentation, will expound on the features of an effective tax system and will also provide his insights of the recent changes undergone in the Sri Lankan tax system as well as an assessment of the features of these new taxes. A second presentation, “Tax revenue and its impact on the economy” by Murtaza Jafferjee – CEO of JB Securities Ltd and Chairman of Advocata Institute, will follow.
The presenters will then be joined by other eminent panelists in a discussion. The panel will comprise of Hasitha Premaratne, Group Finance Director, Brandix Group, Suresh Gooneratne, Director | CFO, DIMO PLC, Dr Roshan Perera, Senior Research Fellow,Advocata Institute and Former Director of The Central Bank of Sri Lanka and Mr Rajive Dissanayake, Chief Financial Officer, HNB PLC. These panellists represent a multitude of industries, ranging from the automobile industry, which has witnessed an unprecedented upheaval in the face of a ban on auto imports; to exporters, riding the crest of a surge in the US Dollar as well as other currencies; as well as banking, facing an irate public yearning for an ease in the constraints faced by a paucity of foreign currency within the banking system. These all make for a very compelling afternoon of intense discussion and deliberation.
More details of this event could be obtained by calling 0773501246 or 077 045 8659
Fiscal policy is a key tool that is used by a government in its efforts to impact the state of the economy, often instituting changes that are planned to provide a stimulus, if such an influence is deemed to be warranted. Such changes are not simply the mere reduction of the tax rates or removal of specific taxes, in the hope of providing such stimuli. Rather, it requires very careful consideration as such a reduction could often result, at least in the short-term, in a reduction in tax revenue, which is a significant component of the overall revenue accruing to the Government.
