CAD Successfully Conducted Seminar on Tax Regulations with Department of Inland Revenue

Sri Lankan agriculture and agribusiness sectors have always been considered as very important sectors in Sri Lankan economy by considering its economic contributions as well as future growth potentials. Accordingly, Sri Lankan tax policies have been developed in favour of the sector development and encourage investments in new production, machinery and processing technologies. Some areas have been given total tax  exceptions while most of other areas given tax concessions and holidays. But unfortunately, these exceptions and concessions have not  been capitalized by most of the agro entrepreneurs and companies due to unawareness and lack of knowledge about the processes.

CAD with Department of Island Revenue has organized a seminar on “New Tax Regulations in Agriculture and Agribusiness Sectors” on 31th May 2012 in Hotel Galadari, Colombo. This full day seminar  was attended  by CEOs & senior finance officials in the agriculture and agribusiness sector for awareness, better planning, implementation and enhanced benefits in business through better understanding on Tax regulations and their implications to the agriculture and agribusiness sectors.

Main areas covered during the seminar are Income tax, VAT (Value Added Tax), NBT, ESC and other taxes applicable for Agriculture and Agribusiness sector, Tax Benefits Schemes to Agribusinesses. Seminar was conducted by Mr. H B A Seneviratne, Deputy Commissioner General, Department of Inland Revenue and other senior officials.

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