KPMG kickstarts 2023 with webinar on ‘APIT, AIT & WHT circulars’ today

Suresh Perera

Rifka Ziyard

Hasna Hassan

The KPMG Sri Lanka Academy will be commencing the year 2023 with a virtual assembly to discuss the ‘APIT, AIT & WHT circulars issued by the CGIR’. The webinar is scheduled to be held today (9) at 3 p.m.

The Personal Income Tax rates were passed into law effective 1 January. Employers are expected to withhold taxes and payment of salary in January will be subject to tax deduction based on the revised PAYE Tables released by the CGIR along with the guidelines for Employers on Deducting APIT From Employment Income (SEC/2022/E/04). Further CGIR has issued the Quantification of Values for Non-Cash Benefits in calculating Employment Income (SEC/2022/E/05).

Since interest will be subject to mandatory deduction of Advance Income Tax from 1 January, circular has been issued to Banks and Financial Institutions on the deduction of AIT on Interest or Discount on Deposits (SEC/2022/E/02). A circular has also been issued to withholding agents as well on the deduction of AIT & WHT on certain payments (SEC/2022/E/03).

The webinar will help to understand the content of these circulars and the impact stemming from it.

The session will be conducted by KPMG Sri Lanka Principal Suresh Perera, Director Rifka Ziyard and Director, Tax and Regulatory Hasna Hassan.

For registrations contact Seneli at 0774446649 or [email protected].