CIMA organises Directors’ Tax Forum 2020

Wednesday, 4 March 2020 01:24 - - {{hitsCtrl.values.hits}}

Directors hold a crucial responsibility in identifying opportunities and pitfalls inherent to the transition in the income tax regime, of the nature which, we are experiencing now.

Suresh R I Perera

The Chartered Institute of Management Accountants (CIMA) in Sri Lanka will be conducting the CIMA Directors’ Tax Forum on 11 March at Elevate, Access South Tower. The forum will focus on the transition to a new tax regime as well as directors’ responsibilities where corporate tax governance is concerned.

This program is specifically designed for directors to enable them to gather the requisite tax knowledge to discharge their duties effectively. Taxation is considered a complicated subject; nevertheless, tax governance is an important part of the corporate governance, and directors are the stewards of the tax governance of an entity. Failure for due compliance attracts reputation risk for the company and exposure for directors’ liability. This forum will provide guidance on how to manage the important role of a director in the context of the complex tax system in Sri Lanka.

Knowledge on tax is a prerequisite for directors in their decision-making role in leading/governing the corporates. Requisite tax knowledge will be discussed in a structured, easy to understand manner, and the content of the program would assist directors in tax risk management and to avoid pit falls in decision making.

The program would also include sessions on tax system and governance, directors’ liability in relation to taxes of the company, directors’ personal tax planning and other currently trending tax issues such as the impact of the reforms on personal taxes, industry wise amendments, provisions of the Foreign Exchange Act as well as the development of a tax risk management policy.

The presentation will be delivered by Suresh R.I. Perera FCMA, CGMA, Principal – Tax and Regulatory, KPMG. Perera is a multidisciplinary professional specialising in taxation with an accounting cum legal qualification. He holds a Bachelor of Law (LLB) Degree from the Faculty of Law, University of Colombo and is an Attorney-at-Law. He is a Fellow Member of CIMA and a Chartered Global Management Accountant (CGMA). He currently serves on the CIMA Global Council.

For further information and assistance on the forum and registration, please contact Kishnika Weeresinghe T: 011 2503880 (Ext: 260) or E: [email protected].