ICASL to explore recent tax law changes in India

As an encouraging number of Sri Lankan companies branch out to neighbouring India, the Institute of Chartered Accountants of Sri Lanka (ICASL) will explore the recent key judicial precedents in direct tax laws implemented India, and the impact such changes pose for multinational enterprises doing business in India.

The ICASL has invited Indian Tax Expert Partner of Ernst and Young's Tax and Regulatory Services Practice K.T. Chandy to speak on 'Multinational enterprises - Key recent judicial precedent in direct tax law,' at a presentation scheduled to be held on May 5, at the ICASL Auditorium, Colombo 7.

Chandy who is also associated with the Technology, Communications and Entertainment Business Unit in India, will explore areas which will be of interest to top Sri Lankan establishments in the country which have already commenced operations in India or are mulling the possibility of commencing business in India.

During his presentation, Chandy will focus on highlighting why India as a country is suitable for a foreign multinational to commence operations in, the legal factors including the present tax incentives available for foreign business to commence operations in India and the exchange control, labour and employment issues which affect such a set-up.

He will also argue on important aspects such as the general perception that doing business in his country is difficult, including on the misconceptions of hidden taxes and levies, during the presentation which will be followed by a Q and A session.

Entrance for the lecture will be free and registration will be on a first come first served basis.