COLOMBO :, KPMG Sri Lanka Academy invites you to join a comprehensive webinar titled “The IMF Report – Tax Reforms” on Monday, June 24th at 3:00 PM. This session will provide an in-depth examination of the proposals made by International Monetary Fund in the latest staff level review report, with the aim of increasing Sri Lanka’s tax revenue. Key proposals include a tax on the imputed rental income of individuals on owner-occupied and vacant residential properties, substituting the previous proposal for property tax. The webinar will also address the constitutional challenges and legal uncertainties associated with this tax proposal.
Additionally, the discussion will cover the economic impacts of removal of corporate income tax exemptions on service exporters, continuing efforts to abolish the Simplified Value Added Tax (SVAT) scheme and increasing Stamp Duty on lease agreements to reduce Government spending. Other topics include raising the Income Tax rate charged for specified industries such as betting, gaming, tobacco, & liquor industries, and lifting import restrictions on motor vehicles & other goods to enhance revenue through import taxes.
The session will also explore the potential of the IMF’s proposed Value-Added Tax on the supply of digital services, aiming to create a level playing field for domestic companies. The webinar will be conducted by Mr. Suresh Perera – Principal, Ms. Rifka Ziyard – Principal, and Ms. Mirani Ratnarajah – Associate Director, Tax & Regulatory at KPMG.
For registrations, please contact Lakshika at lkugan1@kpmg.com or 077 206 3354, or Seneli at sjayatunge1@kpmg.com or 077 444 6649.
