The tax practice group of the firm advises on all aspects of taxation including the impact of direct and indirect taxes and transfer pricing implications of proposed transactions such as setting up in Sri Lanka, change of business models, restructure of businesses, transfer of businesses, change in the scope of business, lending, payment of dividends etc. and preparation/review of transaction documentation for the purpose of addressing identified tax issues.
The team regularly advises on taxes on employment, consultancy arrangements, the chargeability of tax on different types of payments to be made to employees including taxes on benefits payable upon the termination of employment and employee share option schemes offered by Sri Lankan or foreign employers. The applicability of the provisions of the double taxation treaties, setting up permanent establishments in Sri Lanka/ the implications thereof, customs duties, excise duties and other taxes and duties chargeable on the import and export of goods/the implications arising therefrom on the business models adopted by clients are all areas in which the practice group provides advice.
The members of this practice group also represent clients in tax appeals on assessments made by the Department of Inland Revenue to the Commissioner General of Inland Revenue, the Tax Appeals Commission and the superior courts.
