KPMG Friday Mid-Afternoon Chat on Revenue Recognition – Tax and Accounting aspects

KPMG Sri Lanka Academy will  organize the webinar on “Revenue Recognition – Tax and Accounting aspects” on 05th November 2021 (Friday) at 3 pm.

This will be the 29th session under the KPMG Friday Mid Afternoon Chat series.

The Inland Revenue Act No 24 of 2017 has a separate tax rules governing the calculation of income. Though the Act is in operative in the past few years we understand that there is still a vacuum among the business community of the adaptability of the principles governing the calculation of tax base for Income Tax purposes.

This 1 hour session will be conducted by Shameel Nayeem, Partner – Audit & Assurance, and KPMG, Ms. Hasna Hassan, Director – Tax & Regulatory covering the following aspects;

The general rules regarding the recognizing revenue for Income tax purposes

Specific tax treatment of regarding revenue recognition (long term contracts, financial instruments, leases, installment sale income)

The tax impact arising from the accounting adjustment stemming from SLFRS 15. For registrations, please contact Anita on aanita@kpmg.com  or 076 137 3382