KPMG to shed light on changes to VAT next week

KPMG Sri Lanka Academy is set to host a pivotal webinar delving into the intricacies of Value Added Tax (VAT), next week.
Timed strategically just ahead of significant changes in the VAT system, slated for implementation on January 1, 2024, this event promises valuable insights for businesses navigating the evolving tax landscape.
The virtual event will be held on December 14, at 3:00 p.m.
Marked by an unprecedented shift, the VAT system will witness a rate increase to 18 percent, coupled with threshold reductions and elimination of over 200 exemptions. These changes will extend the scope of VAT liability to new taxpayers.
“Our webinar aims to empower businesses by guiding them through impact assessments, ensuring compliance to avert penalties and providing strategic tips for effective VAT planning,” KPMG said.
Leading the session will be a distinguished panel of experts from KPMG, including Principal Suresh Perera, Associate Director Radhini Thomas and Deputy Manager Tax and Regulatory Kushmi Amarasinghe.
Their collective expertise will unravel the nuances of the impending changes, offering attendees practical insights to navigate the complexities of the evolving tax landscape.
Those interested can gain access to the webinar by registering at 0774446649 or [email protected].