KPMG will be conducting a half a day seminar on March 15, 2018 at Movenpick Hotel, Colombo for the purpose of dissemination of essential knowledge on Treaties for Prevention of Double Taxation and as to the manner a person may derive benefits from the treaties.
The presentation will be delivered by Suresh R. I. Perera, Principal Tax & Regulatory of KPMG.
He is a multidisciplinary professional specializing in taxation with an accounting cum legal, qualifications.
The term “International Tax” is a misnomer as there is no distinct body of law to that effect. It is the study of domestic tax laws of other jurisdictions and the network of treaties for prevention of double taxation that would essentially encompass the phrase “International Taxation”.
Currently there are over 3,000 treaties in force globally for prevention of double taxation on income and capital arising in one country and paid to a resident in another country.
Sri Lanka too, has entered into treaties with 44 countries to provide relief from double taxation. The countries that Sri Lanka has entered into treaties include UK, USA, Australia, China, Japan, United Arab Emirates, Kuwait, Qatar, India, Bangladesh, and Malaysia.
Under these treaties not only streams of income such as business profits, royalties, interests, dividends generating from trading and investment transactions are granted relief, even salaries and fees earned by individuals, artistes, sports personnel and students may also obtain relief from double taxation.
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