KPMG to share insights on Customs duties and other import levies

Monday, 4 December 2017 00:02 - - {{hitsCtrl.values.hits}}

Sri Lanka Customs has revised and adopted the 2017 Version of Harmonised System (HS) of Commodity Classification and Coding System, as amended by the World Customs Organisation (WCO – HS System 2017) effective from 10 November.

The adoption of the 2017 Version of HS is fairly large in terms on new, renumbered and redrafted subheadings consequent to the newly created and expanded scope.

The business community should be able to anticipate and define key impact areas associated with the adoption, with both opportunities and challenges. It is important that relevant processes and proper measures should be reviewed and rigidly defined before taking any action on these changes to reduce any unforeseen burdens and risks.

To shed light on the aforementioned changes in HS codes that are in line with the HS 2017 version and proposals in Budget 2018, KPMG in Sri Lanka will host a seminar. In addition to changes in the HS 2017 Version, the seminar will aim to create awareness on the latest position of import levies including details stemming from Gazette Notifications issued subsequent to the Budget 2018. The seminar at the Galadari Hotel, on 6 December, will be conducted by Suresh R. I. Perera, Principal – Tax & Regulatory, KPMG and M. Ravindrakumar, Consultant – Tax & Regulatory, KPMG.

Suresh Perera is an Attorney-at-Law and a fellow member of Chartered Institute of Management Accountants.

M. Ravindrakumar was a former Director at Sri Lanka Customs. He has more than 38 years of experience at Sri Lanka Customs and retired recently as the Director of Customs. He is also a WCO Accredited Expert Trainer in Customs Valuation and Post Clearance Audit.

For further information and assistance on the seminar and registration, please contact Bawani Thomson on T: 011 542 6210 or E: [email protected].