MEMBERS NEWSLETTER

MEMBERS NEWSLETTERApril 2011ICASL to explore recent tax law changes in India and theimpact on foreign multinationalsAs an encouraging number of SriLankan companies branch out toneighbouring India, the Instituteof Chartered Accountants of SriLanka (ICASL) will explore therecent key judicial precedents indirect tax laws implemented India,and the impact such changes posefor multinational enterprises doingbusiness in India.The ICASL has invited Indian TaxExpert Mr. K. T. Chandy, Partnerwith Ernst & Young’s Tax and Regulatory Services Practice to speak on ‘Multinational Enterprises– Key Recent Judicial Precedent in Direct Tax Law,’ at a presentation scheduled to be held onThursday, 5 th May 2011 at the ICASL Auditorium, Colombo 7.Mr. Chandy who is also associated with the Technology, Communications and EntertainmentBusiness Unit in India, will explore on a verity of areas which will be of interest to top Sri Lankanestablishments in the country which have already commenced operations in India or are mulling thepossibility of commencing business in India.During his presentation, Mr. Chandy will focus on why India as a country is suitable for foreignmultinational companies to commence operation in, the legal factors including the present taxincentives available for foreign business to commence operations in India and the exchange control,labour and employment issues which affect such a set-up.He will also argue on important aspects such as the general perception that doing business in hiscountry is difficult, including on the misconceptions of hidden taxes and levies, during thepresentation which will be followed by a Q and A session.Entrance for the lecture will be free and registration will be on a first come first servedbasis.