National Chamber and KPMG to collaborate on tax seminar for SMEs

Wednesday, 13 March 2013 00:13 - - {{hitsCtrl.values.hits}}

The Small and Medium Scale Enterprise (SME) sector is one of the largest contributors to the domestic economy in Sri Lanka as well as to the country’s exports to international markets. It is said that the SME sector presently accounts for around 80% of businesses in Sri Lanka and also plays a pivotal role in employment creation, entrepreneurship and socio-economic development.

Even though constrained by resource limitations, SMEs often compete effectively in niche markets and there have been many success stories where local SMEs have risen to international heights within these specialised markets.

It is also noticed that the lack of access to information was one of the main hindrances to the growth of the sector, which often has limited access to administrative resources, access to finance and narrow business networks. We have seen many banks opening up to SMEs and even some specialized micro financing establishments – this combats one of the challenges. Similarly, business chambers can play a greater role in facilitating access to information and knowledge sharing with the sector.

In view of the above the National Chamber of Commerce of Sri Lanka has partnered with technical partner KPMG to organise a seminar on ‘Tax Incentives and Issues for SMEs’. It is also noticed that SMEs sometimes experience difficulties in understanding and complying with a complex tax regime and may also miss out on concessions and incentives which they may be eligible for.

The seminar will shed light on these areas and include presentations covering both concessions and implications, followed by an interactive discussion.

The panel members for the discussion will include Rohantha Athukorala, Head of National Portfolio Development – Sri Lanka and Maldives of UNOPS, S.N. Samarasinghe, Managing Director of Harischandra Mills, H.A. Ariyaratne, Executive Vice President of DFCC Bank, Ranjith Hapuarachchi, Deputy Commissioner, Department of Inland Revenue and Suresh R.I. Perera, Principal – Tax & Regulatory of KPMG.

The event will take place on Tuesday 19 March 2013 commencing at 2 p.m., at the auditorium of the National Chamber of Commerce, 450 D.R. Wijewardana Mawatha, Colombo 10. For further information and registration, contact: Dilrukshi or Buddika 4741788 email [email protected]; [email protected].