Objectives
1.To give a basic theoretical and procedural knowledge in taxes administered by the Department of Inland Revenue, Sri Lanka.
2.To enhance students with a comprehensive knowledge in tax computations relevant to individuals, partnerships and companies.
2.To provide a practical knowledge in using Revenue Administration Management Information System RAMIS system to submit tax returns, payments, appeals etc.
Target Group
- Executives who are in both private and public sector financial field with a desire to have an updated knowledge in Sri Lankan taxation.
- School leavers who want to be tax professionals in the future.
- Professionals in disciplines other than financial sector with a desire to have a basic knowledge in taxation.
Course Duration
3 months-3 Hours sessions 12
Resource Person
Conducted By: Former Inland Revenue Dept. Commissioner I T, MR UPSA Jayalath B.Sc, M.Sc(UCSC),MBA(UOM), MAAT, MBCS,MCSSL
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Course Outline
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Lecture 1.1Principles of taxation and government revenue
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Lecture 1.2Classification of taxes and taxes in Sri Lanka
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Lecture 1.3Introduction to legislature in Sri Lankan taxation
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Lecture 1.4Introduction to Income Tax
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Lecture 1.5Sources of Income
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Lecture 1.6Assessable and taxable income
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Lecture 1.7Allowable deductions
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Lecture 1.8Income tax calculation. (Individuals/partnerships/companies)
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Lecture 1.9Tax Credit
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Lecture 1.10PAYE and WHT system
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Lecture 1.11Tax Documentation (Payments, Returns, Assessments, Appeals etc)
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Lecture 1.12TIN registration and Practical usage of RAMIS system
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Lecture 1.13VAT introduction
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Lecture 1.14Input and Output tax
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Lecture 1.15VAT calculation
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Lecture 1.16SVAT system
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Lecture 1.17Submission of VAT returns, schedules through RAMIS system
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Lecture 1.18Tax incentives and reliefs
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Lecture 1.19Tax collection methods and penalties
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Lecture 1.20Tax payers’ rights and obligations
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