KPMG’s latest virtual assembly tomorrow

• To focus on ‘Dissecting the new employment benefit valuation rules’

The KPMG Sri Lanka Academy will be conducting a virtual assembly to dissect the ‘New employment benefit valuation rules’ on 14 February at 3 p.m.

The CGIR issued a revised benefit valuation circular dated 7 February 2023 and this circular seeks to annul the previous circular issued in December 2022. 

The analysis of the rules from the new revised benefit valuation is vital since adjustments need to be carried out in the monthly APIT calculations (in order to comply with the circular from 1 January 2023. 

The benefits covered in the circular include transport, accommodation, vehicle driver, fuel, shares from the employer, concessionary loans, medical benefits, communication facility, etc. Certain benefits have been introduced specifically for public sector employees.

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