COLOMBO : A Bill to amend the Value Added Tax Act has been published on 31st August 2023. The Bill seeks to remove the Simplified VAT scheme and to streamline the VAT exemptions by reducing the numerous exemptions that are currently available in the Law. The removal of the SVAT scheme will have a significant impact especially during the transition.The KPMG Sri Lanka Academy will be conducting a Friday Mid-Afternoon chat on the “VAT Amendment Bill 2023 – A Bill to abolish SVAT & streamline VAT exemptions” on 8th of Sept 2023 (Friday) at 3.00 PM. The session will be conducted by Mr. Suresh Perera – Principal, Ms. Rifka Ziyard – Principal, Tax & Regulatory at KPMG Sri Lanka. The presenters will share key insights on the amendments proposed, the impact stemming from the proposed changes, areas to focus on mitigate the impact etc.
For registrations contact Nirosha via 011-5426507 or niroshadesilva@kpmg.com or Seneli via 0774446649 or sjayatunge1@kpmg.com
