COLOMBO : The corporate sector is currently grappling with a significant uptick in bank account seizures by the Inland Revenue Department (IRD), as the tax office intensifies its efforts to collect outstanding taxes. To provide clarity and insight into this pressing issue, KPMG Sri Lanka is organizing an informative webinar focused on the legal framework surrounding the recovery of taxes in default.
Under the tax law, the Commissioner General of Inland Revenue (CGIR) is empowered with various means to recover taxes owed, including court proceedings, liens, offsetting against payments, execution against taxpayer’s property, third-party debtors, sale of seized property, and departure prohibition orders. This webinar aims to educate taxpayers on these provisions, shedding light on the powers of the CGIR and the rights of taxpayers throughout the recovery process.
Sasiruba Balasubramaniam, Senior Manager – Tax, Rifka Ziyard – Principal – Tax and Suresh R I Perera, Head of Tax, KPMG will lead the discussion, offering invaluable insights into this often overlooked aspect of tax law. Participants can expect a comprehensive overview of the legal mechanisms involved in tax recovery, as well as practical guidance on navigating potential challenges.
Mark your calendars for February 20th at 3:00 PM to join this crucial discussion. For registrations and inquiries, please contact Seneli at 0774446649 or sjayatunge1@kpmg.com. Don’t miss this opportunity to enhance your understanding of tax recovery procedures and safeguard your rights as a taxpayer.
