KPMG Sri Lanka’s Post

Suresh R I Perera, Principal Tax and Regulatory at KPMG in Sri Lanka, joins the discussion on Derana News Channel to explore the Intricacies of Sri Lanka's tax system. He highlights the challenges and opportunities within the current framework amid the ongoing financial crisis. Suresh emphasizes the need for thorough cost-benefit analysis of tax relief measures to prevent unintended revenue loss. Tune in for his valuable insights here: https://lnkd.in/g-w_vNnc

Suresh R I Perera, Principal, Tax and Regulatory at KPMG Sri Lanka, will be a panelist at the 3rd Annual Economic and Tax Symposium organized by The Institute of Chartered Accountants of Sri Lanka on 1st and 2nd of August at CA Sri Lanka, from 9 AM to 1 PM. He will be a part of the third session, titled "The Disconnect between Economic Objectives and Tax Policies,". This session explores how inconsistencies in tax policies can hinder economic growth and investment while also shedding light to the reasons behind these misalignments and propose reforms to better align tax policies with economic goals, ensuring a cohesive and effective fiscal strategy. Register here: https://lnkd.in/gar-uMfA #EconomicGrowth #TaxPolicies #SriLankaEconomy #KPMG #ICASL #EconomicReform #Investment #TaxReform #EconomicObjectives #PanelDiscussion #KPMGSriLanka #tax

interesting budget discussion ahead

Removing exemptions for Export Services will be disastrous to the econcomy. As a nation which is desparare for dollar inflow, exporters have been already penalized with thundering taxes on them which has led them to even wrap up their businesses here and move to the countries where exporters are most welcomed with lookrative incentive schemes. In the hand of export of services, professionals are already struggling with slower internet services, baseless APIT and thousand of other reasons. I dont think we, Sri Lankans can even barely stand with global competition for quality export services under the enormous threat of global giants like India unless we are equipped with a proper strategies. It is such a joke to make such a industry taxable further. All this madness will lead to Sri Lanka will sink further in its struggle to revive from decades long damage happened for its economical independency.

🔍 Unlocking Insights: India-Mauritius Tax Treaty Updates 🔍 Discover the latest updates on the India-Mauritius Double Taxation Agreement (DTA)! Our article explores the recent amendments, shedding light on the Principal Purpose Test (PPT) and its impact. Key Highlights: - Combatting Tax Evasion: Insights into joint efforts to prevent exploitation. - Historical Context: Understanding past challenges with Mauritius-based shell companies. - Turning Point: Exploring 2016 revisions and their protective measures. - Introducing PPT: Delving into the new scrutiny on investment intentions. - Navigating Changes: Implications for both existing and future investments. Ready for deeper insights? Dive into the full article here and stay ahead in the evolving tax landscape! Read Now: https://lnkd.in/dAWSeQ4J #IndiaMauritiusDTA #TaxFairness

If you are interested in the outlook for the #IndonesianEconomy & #Taxation in 2025, please register for RSM INDONESIA’s webinar on 4th December #RSM #Indonesia #ASEAN

🔔 Update on India-Mauritius Tax Treaty Amendment 🔔 📅 Effective Change: On March 7, 2024, India and Mauritius signed a protocol to amend their existing tax treaty, tightening rules to combat tax evasion from capital gains on share sales by Mauritius residents in Indian companies. 📝 Key Details: 1.Pre-2017 Rule: Capital gains from shares purchased by a Mauritian resident in Indian companies before March 31, 2017, could only be taxed in Mauritius. 2. Post-2017 Shift: Now, India has the right to tax gains from shares acquired on or after April 1, 2017. 💼 Reason for Amendment: 1.FDI Impact: Mauritius is a significant conduit for FDI into India, channeling $6.1 billion in FY 23, often from third-country investors using Mauritius primarily for its tax advantages. 2.Closing Loopholes: The revision aims to prevent misuse of the treaty by those seeking merely tax savings rather than promoting genuine economic cooperation. 🧐 New Requirement: The Principle Purpose Test (PPT): Purpose Over Profit: Investors must demonstrate that their primary intent is to foster trade and business links between India and Mauritius, not just to exploit tax benefits. 🔄 Concerns About Retroactive Application: Future Decisions Pending: The Indian Tax Department is considering whether to apply these changes retrospectively, a move that could disrupt existing investments and financial markets. 👀 Implications to Watch: 1.Market Reactions: Potential retroactive application may lead to rapid adjustments in investment structures and strategies by foreign institutional investors (FIIs) and foreign portfolio investors (FPIs). 2.Regulatory Clarity: Further announcements are expected to clarify the scope and enforcement mechanisms. Stay tuned for more updates. Ensuring compliance with these changes is crucial for investors and businesses involved in India-Mauritius trade routes. 🌐 #IndiaMauritius #TaxTreaty #CapitalGainsTax #FDI #TaxEvasion #PrinciplePurposeTest #EconomicPolicy #FinanceNews #Business #India #Taxes #accountingandaccountants 🔄 Like and Share this post to spread the word! Comment below or message me for more insights and implications. 📈 Follow for regular updates on international trade and tax policy changes. Let's navigate these regulatory waters together!

𝑻𝒂𝒙𝒂𝒕𝒊𝒐𝒏 𝒂𝒏𝒅 𝒕𝒉𝒆 𝑺𝒖𝒔𝒕𝒂𝒊𝒏𝒂𝒃𝒍𝒆 𝑫𝒆𝒗𝒆𝒍𝒐𝒑𝒎𝒆𝒏𝒕 𝑮𝒐𝒂𝒍𝒔: 𝑻𝒉𝒆 𝑹𝒐𝒍𝒆 𝒐𝒇 𝒕𝒉𝒆 𝑷𝑪𝑻 Did you know that 80% of low-income countries collect less than 15% of GDP in taxes? The new blog published by the Platform for Collaboration on Tax highlights how boosting tax revenues can help close the $4 trillion annual SDG financing gap. Discover the reforms needed to achieve sustainable development! 🗞️ 𝐫𝐞𝐚𝐝 𝐭𝐡𝐞 𝐟𝐮𝐥𝐥 𝐛𝐥𝐨𝐠 𝐡𝐞𝐫𝐞: https://lnkd.in/eX-DHUTZ #PlatformforCollaborationonTax

Join our webinar - 2025 Indonesian Economy and Taxation Outlook on 4 December 2024 This webinar will cover these topics:  - Global geopolitical dynamics - Indonesian economy under new president - Impact of Trump's victory on global and Indonesian economies - Tax policy focus for 2025 - Tax trends and their impact to investors and taxpayers. To register, please click https://lnkd.in/grbwncQC #RSMIndonesia #TaxWebinar

”The Tax Cuts and Jobs Act (TCJA) aimed to stimulate economic growth through tax reductions, but its promised revenue increases were not fully realised. While the act encouraged investment, it also contributed to a higher deficit, raising concerns about the sustainability of deeper tax cuts.” - Prof. Haroon Bhorat, Chair: Investment Committee #taxcuts #sygnia #revenueincrease #investment