International Fiscal Association (SL Branch) seminar on taxation on Aug 17

The International Fiscal Association (IFA) was established in 1938 with its headquarters in Netherlands. It is the only non-governmental and non-sectoral international organisation dealing with fiscal matters.

Membership of IFA now stands at more than 12,000 from 100 countries. In 62 countries, IFA members have established IFA Branches. Direct membership is possible in countries where there is no IFA Branch as yet.

The objects of the IFA are the study and advancement of international and comparative law in regard to public finance, specifically international and comparative tax law and the financial and economic aspects of taxation.

IFA exerts its influence through its annual congresses, at branch level and through scientific research. Although the operations of the IFA are essentially scientific in character, the subjects selected take account of the current fiscal developments and changes in local legislation. In many jurisdictions, the IFA branch plays an active role where issues of international taxation are concerned, be it in a formal or informal way.

An annual congress, hosted by one of IFA’s branches, provides an opportunity for an exchange of knowledge and experience with respect to fiscal law. These congresses attract over 1600 participants and accompanying persons. They afford the scope for useful contacts with leading experts in the fiscal field, both as part of the official programme and in the course of private discussions.

Two subjects are selected each year by the Permanent Scientific Committee. These subjects form the basis of exhaustive discussions, normally resulting in some sort of a concluding statement or recommendation.  The annual congress for the year 2011 is scheduled to be held in France, Paris from 11 September 2011 to 16 September 2011.

Further, the IFA branches hold meetings and seminars on topical issues of international taxation to which their members are invited to attend. Keeping in line with this, the International Fiscal Association (Sri Lanka Branch) will hold a seminar on Taxation at the Hotel Ramada – Colombo on Wednesday, 17 August 2011 from 9 a.m. to 1 p.m.

The objective of the seminar will be for the participants to receive firsthand information about the amendments to the Inland Revenue Act, Value Added Tax Act and other Acts arising from the 2011 Budget.

The speakers and the panellists will analyse and discuss the most recent fiscal amendments and the consequential effects on taxpayers. The keynote address will be delivered by K.M.S. Kandegedara, Commissioner General of Inland Revenue.

The organisers of this seminar have lined-up the programme in the following manner: H.B.A. Seneviratne, Deputy Commissioner General – Tax Policy, Rulings and International Affairs, Department of Inland Revenue will speak on ‘Amendments to the Inland Revenue Act and Economic Service Charge Act’; Dhammika Gunatilaka, Tax Advisor, Department of Fiscal Policy, Ministry of Finance and Planning will speak on ‘Amendments to the Value Added Tax Act and Nation Building Tax Act’; B.A.D.D. Herath, Deputy Commissioner, Department of Inland Revenue will speak on  ‘Simplified VAT Scheme’; Suresh Perera, Attorney-at-Law, KPMG Ford Rhodes Thornton & Co will speak on ‘Budget – What could have been Different’.

Also, there will be a panel discussion by Mallika Samarasekera, Deputy Commissioner General, Department of Inland Revenue, Basheer Ismail, Partner – SJMS Associates and Denzil A. Rodrigo, Director – ECI Tax Chambers (Pvt) Ltd. The moderator of the seminar will be N.R. Gajendran, Chairman of the International Fiscal Association (Sri Lanka Branch).

It will be a unique opportunity for the participants to obtain firsthand clarifications from the speakers and panellists who have authority in the field of taxation.

More details on the programme and registration for the seminar can be obtained from the Seminar Secretary, International Fiscal Association (Sri Lanka Branch) at 52/1, Nandana Gardens, Colombo 4, Tel. 2597898.