Webinar on 18 August on tax and legal considerations and remedies during unprecedented times

Friday, 14 August 2020 00:00 - - {{hitsCtrl.values.hits}}

KPMG Sri Lanka Academy will be conducting a webinar that would enlighten the participants about the essential knowledge on tax and legal aspects that are relevant to navigate this era of COVID-19.

Dr. K. Kanag Isvaran

Rifka Ziyard

Suresh R.I. Perera

KPMG Director, Tax and Regulatory Rifka Ziyard will be moderating this panel discussion where Dr. K. Kanag-Isvaran, President’s Counsel and Suresh Perera – Principal, Tax and Regulatory at KPMG would shed light on many issues that are relevant to Directors, Chief Financial Officers and other senior management personnel involved in the decision making processes of the companies.

The discussion points would involve tax and legal issues pertaining to diverse areas that are essential to businesses today such as the role and liabilities of directors stemming from Tax and Company Law regime, legal issues pertaining to conducting virtual statutory meetings, ratifications of actions taken by directors during the COVID-19 period, consequences of the inability to pay debts by a company as well as the process to be followed upon a company reaching insolvency, appointment of an administrator, etc.

This webinar will also address the consequences of failure to honour delivery contracts, the issues concerning electronic invoices and the validity of e-signatures on documents, opportunities available for restructuring the business activities on account of the impact of COVID-19 from tax and legal perspectives.

Suresh Perera sharing his thoughts on the webinar says, “COVID-19 compelled many businesses to deviate from the norms and pursue alternative business practices. In recognition of the difficulties faced by businesses, the Government of Sri Lanka also has provided many tax and fiscal concessions. However, there are many tax and legal ramifications in pursuing alternate business practices adopted to battle the impact stemming from COVID-19. This discussion would impart the essential tax and legal requisite knowledge that would allow business decision makers to steer the businesses during this COVID-19 recovery phase.”

Further, the tax authorities have provided several tax reliefs during the COVID-19 period. The panel session will also cover the legality and the measures required to provide legal enforceability for such tax reliefs and the amendments required for the tax legislations, insight on the effects on statutory time bar provisions; both mandatory and directory, due to the reliefs given for tax filing and payments during the COIVD-19 period, etc.

The Central Bank of Sri Lanka has granted a debt moratorium for the borrowers during the COVID-19 era, this session will focus on demystifying the tax and legal considerations on this CBSL debt moratorium.

For registrations contact Seneli on 077 444 6649 or [email protected].