Press briefing of Cabinet Decision taken on 2023-01-16

Amending the name of Sri Lanka Institute of Taxation as Chartered Institute of Taxation of Sri Lanka

- The Sri Lanka Institute of Taxation is a body incorporated under the Sri Lanka Institute of Taxation (Incorporation) (Amendment) Act No. 21 of 2000. The said Institute provides tax education to the public through the conduction of courses and provides membership to professionals in taxation by empowering them to perform as recognized tax consultants, authorized representatives and authorized agents under the Inland Revenue Act No. 24 of 2017. Hon. Madhura Withanage, Member of Parliament has presented a Private Member Bill in Parliament to amend the name of the said institute as Chartered Institute of Taxation of Sri Lanka. Accordingly the proposal made by the Hon. President in his capacity as the Minister of Finance, Economic Stabilization and National Policies to submit a Report to Parliament recommending the relevant Bill as per the provisions of Parliamentary Standing Orders 52(6), was approved by the Cabinet.