IMF report, tax reforms webinar on June 24

KPMG Sri Lanka Academy presents a webinar titled ‘The IMF Report - Tax Reforms’ on Monday, June 24, at 3:00 p.m.

This session dives into the International Monetary Fund’s (IMF) latest proposals outlined in its review report, with a particular focus to bolster Sri Lanka’s tax revenue.

The discussion will explore several proposals, including a tax on the imputed rental income of individuals on owner-occupied and vacant residential property (as a substitute to earlier proposal for a Property Tax).
This session will also delve into constitutional challenges discussed in the report and legal uncertainties associated with the imputed rental income tax. The economic impact of eliminating corporate income tax exemption for service exporters, ongoing efforts to abolish the Simplified Value Added Tax (SVAT) scheme, proposal to increase stamp duties on lease agreement with the aim of reducing overall government spending, increasing CIT rate charged on betting and gaming, tobacco and liquor industries and eliminating import restrictions on motor vehicles and other import, to augment government revenue through import taxes, will also be discussed.

The upcoming webinar will also assess the potential of the IMF’s proposed Value Added Tax on supply of digital services to level the playing field for domestic companies.

The session will be conducted by KPMG Principal Suresh Perera, Principal Rifka Ziyard and Associate Director Tax and Regulatory Mirani Ratnarajah. 

For registrations, please contact Lakshika on [email protected] | 077 206 3354 or Seneli on [email protected] | 077 444 6649.