COLOMBO : Although there were limited tax proposals included in the Budget 2022, there were certain new taxes/levies being introduced to boost the tax revenue. The proposal to introduce a one-time tax surcharge of 25% which would contribute Rs 100 billion to state coffers was one such significant revenue measure.
The 2.5% social security contribution which is a tax on turnover would have a cascading effect and greater impact on the profitability. As per the Budget Speech, a revenue of Rs 14 billion is expected from social security contribution.
Hence business leaders should have an understanding on these revenue measures to assess the business impact.
The KPMG Academy will be hosting “The Virtual Assembly” on “Industry analysis 25% tax surcharge & 2.5% social security contribution (stemming from the Budget 2022)” with an eminent panelist who will share their valuable insights on the business impact. The key technical presentation will be delivered by Suresh R I Perera, Principal – Tax & Regulatory, KPMG. The webinar is scheduled on 19th of January 2022 from 3.15 to 4.30 PM.
The panel will include Mr. Aashiq Lafir, Group Finance Director at Softlogic Holdings PLC, Ms. Dilani Katipearachchi, Vice President at Aitken Spence Corporate Finance and Mr. Haresh Somashantha, Director Finance at Royal Ceramics Lanka PLC.
The panel will be moderated by Rifka Ziyard, Director – Tax & Regulatory at KPMG.
For registrations, please contact Seneli Jayatunge on sjayatunge1@kpmg.com or 077 444 6649
