COLOMBO : The KPMG Academy presents the 23rd virtual session of the “Friday Mid-Afternoon Chat” series at 3 pm,on August 6.
The session will have KPMG experts deliberate on the “Port City Act: an in-depth analysis (including tax ramifications on distinct scenarios)”.
The Colombo Port City Economic Commission Act, No. 11 of 2021 was certified on 27th May 2021.The enactment of the Port city Act with exemptions from statutes listed in the ‘Schedule III’ and scope for exemptions to be granted (within a set framework) from the Statutes in the ‘Schedule II’ of the Act has many permutations and combinations for prospective investors, residents, and other stake holders. This webinar will analyze these interesting aspects.
An in-depth understanding of the key provisions of the Act is of utmost importance for decisionmakers to strategize the future path of their respective businesses. The discussion will focus on overview of Offshore companies, establishing banking operations in the port city , FOREX rules within the port city, persons liable for income tax within the port city, application of Double tax treaty provisions, application of Sri Lanka income tax & VAT rules for the port city on intra – supplies, application of stamp duty on different types of transactions etc.
The speakers will also deliberate on the right of the Sri Lankan professionals (architects, lawyers, doctors, engineers) in establishing/ residing in the port city.
The session will be conducted by Suresh R. I. Perera, Principal – Tax & Regulatory, Ms. Rifka Ziyard, Director – Tax & Regulatory and Ms. Sachithra Chandrasena, Senior Manager – Tax & Regulatory at KPMG in Sri Lanka.
This session is scheduled on 6th August from 3:00 PM onwards. For registrations please contact Seneli Jayatunge on sjayatunge1@kpmg.com or 074 061 0783
