Text and Pic by Jude Denzil Pathiraja

Prasanga Ranwatte, a tax professional and Senior Director of a leading Tax Firm was elected as President of the Sri Lanka Institute of Taxation (SLIT), for another term at its Annual General Meeting held recently (Dec 09).

The Executive Council of the Institute consists of eleven Tax professionals including three members appointed by the Ministry of Finance. Members of the Executive Council 2021/22 include, T. Prasanga Ranwatte President, SA Bharatha P Subasinghe Secretary, Ruwan Gamage Vice President, N.V. Sameera Vithanage Treasurer, D Rangalle, Ranil Abeywardhene, UP Gayan T Karunaratne, Mahi Nuwan Vithanage, AHM Thimira C Abeysinghe, Dr JAS Felix, and PVL Nandasiri.

They were elected at the 21st AGM of the Sri Lanka Institute of Taxation held at the institute’s new auditorium located at No 484, Havelock Road, Colombo 06.

Sri Lanka Institute of Taxation is the only national statutory body of tax professionals, which deals primarily and exclusively conducting professional study courses in Taxation in Sri Lanka.

The year 2021 marks the institute’s 29th anniversary serving the community by disseminating tax knowledge and producing tax consultants. In 1992, some of the retired senior officials of the Department of Inland Revenue took the initiative to form the Sri Lanka Institute of Taxation with the objective to produce competent tax professionals and to impart knowledge of taxation to members of the public. A few years later, after the formation of the Institute, steps were taken to incorporate it by an Act of Parliament to enable it to pursue its objectives with official sanction. The Bill to incorporate the Sri Lanka Institute of Taxation was passed in Parliament by Act No. 21 of 2000 on June 19, 2000.

The Diploma and Professional level study courses conducted by the Institute leading to its membership are currently very popular in Sri Lanka. The members of the institute are eligible to practice taxation as authorized representatives under the Inland Revenue Act.