Empowering tax innovation: Deloitte South Asia Network drives cutting-edge tax insights in Colombo

Deloitte Sri Lanka, in collaboration with Deloitte India, recently held an exclusive and impactful tax event that brought together leading industry professionals, clients, and experts to explore emerging trends, challenges, and opportunities in the regional tax landscape. This milestone event served as a celebration of Deloitte Sri Lanka’s integration into the Deloitte South Asia Network alongside the Tax Executive Committee gathering which reinforced the firm’s commitment to delivering exceptional expertise and value-driven solutions to its clients.

The event showcased the strength of Deloitte Sri Lanka’s tax practice, which has grown significantly with a team of over 90 professionals and four specialised tax partners — Charmaine Tillekeratne, Sarala Kodagoda, Rishini Manatunga, and Damith Gayan. With this expanded capacity, Deloitte Sri Lanka is well-positioned to provide innovative and strategic tax solutions tailored to meet the evolving needs of its clients.

Opening the event, Deloitte Sri Lanka Partner Charmaine Tillekeratne welcomed attendees and emphasised the importance of equipping businesses with the tools and knowledge to navigate an increasingly complex tax environment. She highlighted the strategic value of Deloitte Sri Lanka’s integration into the South Asia Network, which has unlocked access to enhanced resources, cutting-edge expertise, and collaborative opportunities across the region.

Deloitte South Asia President of Tax Gokul Chaudhari delivered the keynote address, offering a compelling overview of the depth and breadth of Deloitte’s tax capabilities across South Asia. His remarks set the tone for the day, providing attendees with insights into the transformative solutions available through Deloitte’s extensive network.

The event featured a series of engaging discussions on critical tax topics. The first session focused on the tax opportunities and implications associated with the Colombo Port City, a transformative initiative poised to redefine Sri Lanka’s economic landscape. Moderated by Charmaine Tillekeratne, the session included a comprehensive overview by Colombo Port City Economic Commission Chief Operating Officer Revan Wickramasuriya. Panelists, including Deloitte South Asia Global Business Tax Leader Rohinton Sidhwa, and Sudath Perera Associates Partner Dushyantha Ratnayake provided comparative insights, drawing parallels with India’s GIFT City. The discussion revolved around tax exemptions, regulatory considerations, and strategies for leveraging the Port City framework for sustainable growth.

In the second session, Deloitte South Asia Transfer Pricing Leader Tarun Arora delivered an in-depth analysis of Sri Lanka’s newly issued Advance Pricing Agreement (APA) guidelines. Joined by Charmaine Tillekeratne, he addressed attendee questions and concerns, offering clarity on how businesses can secure tax certainty for their transfer pricing arrangements. Drawing on India’s extensive APA experience, Tarun provided valuable insights to help attendees navigate this evolving regulatory landscape with confidence.

The discussion on the transformative role of technology in tax operations was led by Anil Talreja and featured contributions from Mahesh Jaising and Rohinton Sidhwa, who shared global perspectives, alongside Rishini Manatunga, who provided insights specific to the Sri Lankan context. Together, they explored how digital transformation is revolutionising tax functions by enhancing compliance, streamlining processes, and enabling data-driven decision-making.

The final session highlighted the importance of global trade in today’s interconnected economy. Customs Additional Director General Achala Chandrasekara discussed Sri Lanka Customs’ initiatives to simplify business processes, while Deloitte Executive Director Vijay Chauhan shared actionable strategies for overcoming global trade challenges and seizing opportunities in international markets.

Throughout the event, participants were given opportunities to engage in thought-provoking panel discussions, interactive Q&A sessions, and valuable networking opportunities. By facilitating dialogue and collaboration, the event ensured that attendees left with practical insights and actionable strategies to address the complex challenges of a dynamic tax environment.

Reflecting on the success of the event, Charmaine Tillekeratne stated, “At Deloitte Sri Lanka, we remain dedicated to equipping our clients with the expertise and resources necessary to navigate today’s dynamic tax landscape. This event demonstrated our unwavering commitment to delivering value-driven solutions and fostering informed decision-making for sustainable business growth.”

The event concluded on a high note, with gratitude extended to the speakers, panellists, and attendees for their invaluable contributions. By addressing pressing tax topics and fostering meaningful dialogue, Deloitte Sri Lanka reinforced its position as a trusted partner, empowering businesses to thrive in an increasingly complex global environment.