CIMA organises Directors’ Tax Forum 2021

Friday, 22 January 2021 00:00 - - {{hitsCtrl.values.hits}}

The Chartered Institute of Management Accountants (CIMA) in Sri Lanka will be conducting the CIMA Directors’ Tax Forum on 23 January 2021 via Zoom to provide guidance on how to manage the important role of a Director in these times.

This program is specifically designed for directors to enable them to gather the essential 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 reputational risk for the company and exposure for directors’ liability.

The forum this year will focus on taxation during COVID-19, corporate restructures related to COVID-19, as well as moratorium and tax issues, tips for personal tax planning, corporate taxation insights on the real estate, banking, construction, agriculture and tourism industries, ramifications stemming from budget proposals, Real Estate Investment Trusts (REITs) and tax amnesty. It will cover COVID-related tax risk management measures, tax compliance digitisation and related risk management issues, essential tax appeal features for decision making, the role of directorial boards and audit committees in tax governance, the role of tax health checks in organisational tax governance and penalties for non-compliance. The forum will further analyse pandemic-related import and foreign exchange restrictions, including COVID-related fund repatriation rules and restrictions.

The presentation will be delivered by KPMG Principal – Tax and Regulatory Suresh R.I. Perera, FCMA, CGMA. Suresh 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 The Chartered Institute of Management Accountants (CIMA) and a Chartered Global Management Accountant (CGMA). He currently serves on the CIMA Council.