Webinar on ‘Taxes and the Constitution’

An online seminar on ‘Taxes & the Constitution’ will be conducted by KPMG Academy on August 5, at 3 p.m.

Dr. K. Kanag-Isvaran, President’s Counsel would elucidate  parliament’s power to enact tax laws and the powers vested in Provincial Councils under the 13th Amendment to the Constitution to legislate taxes pertaining to land & property and whole & retail sales. The focus of the analysis would in the context Imputed Rental Income Tax proposed by the IMF in its second review report.
The discussion would also delve into the ‘constitutional constraints’ mentioned in the IMF’s second review report. Additionally, the power to impose and collect stamp duty on transfer and lease of land will be examined in the context of the 13th Amendment to the Constitution.

Connected to the above, constitutionality of the implementation of the Social Security Contribution Levy (Also the Nation Building Tax) in the context of the 13thAmendment to the Constitution would also be discussed in the webinar. 
A key focus of the webinar will be an analysis on the Constitutional principles underlining taxation. This will include a deep dive into the landmark Supreme Court Special Determination (SC SD 01-09/2022) in relation to Supply of Goods & Services Tax Bill which was held unconstitutional. 
The webinar will also address the unconstitutional aspects of the Supply of Goods and Services Tax Bill and the Special Commodity Levy Act, which contributed to the sugar and onion scandals. These issues led the IMF to recommend the elimination of discretionary taxes in its September 2023 report.
The webinar will further explore the constitutionality of Section 2A of the VAT Act, which grants the minister authority to set VAT rates through gazette notifications. 
Additionally, the constitutionality of tax holidays offered by the Port City, along with critical observations made by the Supreme Court on this matter, will also be discussed.
Suresh R.I. Perera and Rifka Ziyard, Principals of KPMG, will join Dr. K. Kanag-Isvaran, President’s Counsel, as panelists for the discussion.
To register, please contact Lakshika at [email protected] or 077 206 3354.