KPMG Webinar on ‘Revenue Recognition – Tax and Accounting Aspects’ on 5 Nov.

Tuesday, 2 November 2021 02:53 - - {{hitsCtrl.values.hits}}

Shameel Nayeem

Hasna Hassan

KPMG Sri Lanka Academy will organise the webinar on ‘Revenue Recognition – Tax and Accounting aspects’ on Friday, 5 November at 3:00 p.m.

This will be the 29th session under the KPMG Friday Mid-Afternoon Chat series.

The Inland Revenue Act No. 24 of 2017 has separate tax rules governing the calculation of income. Though the Act has been in operation over the past few years, it is understood that there is still a vacuum among the business community of the adaptability of the principles governing the calculation of tax base for Income Tax purposes.

This one-hour session will be conducted by KPMG Partner – Audit and Assurance Shameel Nayeem, and KPMG Director – Tax and Regulatory Hasna Hassan covering the following aspects:

The general rules regarding recognising revenue for income tax purposes

Specific tax treatment regarding revenue recognition (long-term contracts, financial instruments, leases, instalment sale income)

The tax impact arising from the accounting adjustments stemming from SLFRS 15.

For registrations, please contact Anita on [email protected] or 076 137 3382