KPMG to hold virtual assembly on practical approach to tax issues

Friday, 3 September 2021 00:00 - - {{hitsCtrl.values.hits}}

The ‘virtual assembly’ on ‘Practical approach to tax issues in light of judicial decisions’ launched by KPMG Academy consists of three sessions with KPMG resource persons and eminent subject experts addressing vital issues pertaining to the tax Appellate procedure and how recent developments of the judicial decisions have impacted the taxpayers.

The guest speaker for the sessions will be Suren Fernando, Attorney-at-Law (LLB, LLM). KPMG Principal – Tax and Regulatory Suresh R.I. Perera will be a speaker and Director – Tax and Regulatory Rifka Ziyard will be the moderator.

The three sessions are scheduled as follows:

7 September (Tuesday) ‘Tax Appeal Procedure: Beyond the Surface’
22 September (Wednesday) ‘Financial Instruments – Shares, Treasury Bills, Interest’
6 October (Wednesday) ‘Recent Significant Cases in Relation to Income Tax, VAT and Stamp Duty’

The subject of taxation is not a watertight compartment consisting solely of taxing statutes. Other than the taxing statutes, constitution, case law, rules of natural justice, doctrines of administrative law, maxims of interpretation and the common law of the country are essential for upholding taxpayer’s rights and obligations. The three sessions will reflect on appellate procedure with special focus on upholding protections accorded to taxpayers, the direction of recent judicial determinations on controversial tax matters and the tax treatment of financial instruments.

The first session is scheduled for 7 September from 3 to 5 p.m. and will cover areas such as the distinction between the new and old income tax appellate procedure, appeals to the Tax Appeals Commission and the Court of Appeal, writ jurisdiction, procedural matters on assessments and appeals, rules of natural justice, legitimate expectation, and administrative law.

For registration, please contact Seneli Jayatunge on [email protected] or 074 061 0783.