KPMG webinar on individual Income Tax for Y/A 2019/20 on 26 and 28 September

Wednesday, 23 September 2020 02:41 - - {{hitsCtrl.values.hits}}

Suresh R. I. Perera

Rifka Ziyard

The KPMG Sri Lanka Academy has organised a webinar focusing on creating awareness on how to calculate the final payment coming up on 30 September and on filing the Return of Income for Y/A 2019/20.

The tax rules for Year of Assessment 2019/20 is complex since changes to the income tax law was introduced by way of web notices from 1 January 2020. The presentations seek to provide guidance on calculating the liability for 2019/20, use the tax deductions effectively, exemptions to make avail of as per recent changes, computing the final quarter payment, mode of making the payment, claiming tax credits, income tax refunds, filing the cages in the Income Tax Return for 2019/20, completing the Schedules attached to the Income Tax return, etc.

Rules in relation to tax slabs, tax rates, qualifying payment relief, tax free allowance have been subject to changes and has an impact on the computation of tax payable for Y/A 2019/20. Further certain new rules in computing tax on interest income has been administratively introduced by the Inland Revenue Department further to the removal of the withholding tax regime effective from 1 January 2020.

For convenience the webinar will be rolled out on two days. Participants can either register for the first batch on 26 September (Saturday) or the second batch on 28 September (Monday) from 10 a.m. to 12 noon.

The presentations will be delivered by Suresh Perera, Principal – Tax & Regulatory and Rifka Ziyard, Director – Tax & Regulatory at KPMG.

For registration please send an email to [email protected] or [email protected].