Enhancing corporate awareness: Understanding tax recovery in Sri Lanka

The corporate landscape is currently grappling with a surge in bank account seizures by the Inland Revenue Department (IRD), reflecting heightened efforts by tax authorities to bolster tax collection. 

Empowered by tax laws, the Commissioner-General of Inland Revenue (CGIR) possesses a range of mechanisms for recovering taxes in default, including court proceedings, liens, offsetting against payments, execution against taxpayer’s property, pursuit of third party debtors, sale of seized property and departure prohibition orders.

To demystify this intricate aspect of tax law, an upcoming webinar aims to enlighten taxpayers on the legal framework governing tax recovery in Sri Lanka, elucidating both the powers vested in the CGIR and rights of taxpayers throughout the process.

Joining forces to shed light on this seldom-discussed arena of tax law are Senior Manager Sasiruba Balasubramaniam and Principal Rifka Ziyard alongside Suresh R.I. Perera. Their expertise promises to provide participants with invaluable insights into navigating the complexities of tax recovery procedures.

Mark your calendars for February 20, at 3:00 p.m. for an enriching session. To secure your spot, reach out to Seneli via 0774446649 or [email protected]. Don’t miss this opportunity to enhance your understanding of tax recovery mechanisms and safeguard your rights as a taxpayer.