Seminar on tax laws

New developments in tax laws is a topic which is discussed in the Business arena of Sri Lanka today more than ever.

A seminar will be held at the auditorium of the Youth Affairs Ministry tomorrow by the Skills Development Fund Ltd, which is a government owned company functioning under the above Ministry.

A panel of experts will conduct the seminar from 9.00 am to 4.00 pm on this day. The programme will be conducted sharing the views in the form of interactive sessions with the participants.

The government has introduced several changes with regard to finance, tax and investment related legislation in the form of amendments to the existing 14 Acts and along with one new legislation in keeping with the budget proposal 2011.

The reduction of the VAT rate on Financial services and on some of the goods and services from 20 percent to 12 percent and introduction of a new VAT suspension scheme for exporters and deemed exporters, removal of the Special Responsibility Levy, removal of the Debit Tax and Cellular Mobile Subscribers' Levy are some of the proposed amendments to the existing Acts.