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Seylan Bank hosts webinar for SMEs on taxation and benefits

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Ranil Dissanayake- Assistant General Manager – Branch Credit – Seylan Bank

Seylan Bank, the Bank with a Heart, recently hosted its latest webinar for Small and Medium Enterprises (SMEs) titled, “Taxation for SMEs and Reliefs Offered during COVID-19 Period”. Always focused on SMEs and with the wellbeing of the ‘backbone of the economy at heart, Seylan Bank continues to add value to the industry with this webinar, with an aim to support growth and provide holistic solutions for these businesses by enhancing their knowledge.

The seminar, conducted by Deepani Herath, Senior Consultant on Tax Services to Price Water House Coopers and former Deputy Commissioner General of the Inland Revenue Department, focused on educating SME customers on the importance of meeting tax obligations and assisting them in ascertaining their tax dues. It explained the provisions for relief within the system, enabling them to make use of tax reductions made possible by the authorities. Participating SMEs were also educated on the concessions provided to businesses in light of COVID-19, enhancing their understanding of tax liabilities and tax assessment, options to extend the period of payment for tax arrears and the extension of bank guarantees and non-refundable deposits. The session also covered maintaining the accuracy of financial statements, VAT compliance and other related areas.

Deepani Herath is a lecturer at the Institute of Chartered Accountants and the University of Colombo and has lectured at Sri Jayawardanapura University, Sri Lanka Institute of Taxation and the Association of Accounting Technicians Sri Lanka. She holds a Master of Business Administration from the University of Colombo and a BA in Economics with a First Class from the University of Sri Jayawardanapura. Ms Herath contributed in preparing “Sri Lanka Tax Cases Volume IV”, and “Manual of Income Tax law 2000/2001.2001/2002,2002/2003”. 

“As a Bank that expanded to the outskirts of the country from its inception to support the small and medium scale entrepreneurs building businesses from the ground up, Seylan Bank has always been aggressive in its support of SMEs. As the Bank with a Heart, we are driven by a desire to share knowledge and enable businesses to transform. With current market dynamics, we decided to conduct this webinar to help SMEs understand their tax obligations and legitimate ways of reducing their tax liability so that they can succeed and contribute to the success of the nation.” said Ranil Dissanayake, Assistant General Manager – Branch Credit at Seylan Bank, explaining the bank’s commitment to small and medium enterprises.

Small and Medium Enterprises form the largest component of the formal economy and were some of the most affected due to the COVID-19 pandemic and the economic fallout from it. However, they have also remained the most resilient and entrepreneurial in the face of adversity. The bank with a gamut of financial services, regional SME Hubs to expedite facility approvals and dedicated ‘SME Relationship Officers’ to support businesses not just in acquiring funds, but in managing and utilising them optimally, is fully geared to support this vital sector of the economy. 

Seylan Bank, the Bank with a Heart, operates with a vision to offer the ultimate banking experience to its valued customers through cutting-edge technology, innovative products, and best-in-class service. The Bank has a growing clientele of SMEs, Retail and Corporate Customers and has expanded its footprint with 172 branches across the country, 216 ATM units, 70 Cash Deposit Machines (CDM) and 83 Cheque Deposit Kiosks (CDK). Seylan Bank has been endorsed as a financially stable organisation with performance excellence across the board by Fitch Ratings, with the bank’s national long-term rating revised upward, from ‘A-(lka)’ to ‘A (lka)’. The bank was ranked second among public listed companies for transparency in corporate reporting by Transparency Global. Seylan Bank has also been named the Most Popular Banking Service Provider in Sri Lanka in Customer Experience by LMD consecutively in 2019 and 2020. These achievements are a testament to Seylan Bank’s financial stability and unwavering dedication to ensuring excellence across all endeavours.

 

 



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Dr Asanka Senanayake named most popular dentist at BWIO Awards

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Founder of Shine Dental Care Dr. Asanka Senanayake receiving the award

Dr. Asanka Senanayake, founder of Shine Dental Care centres—which provide dental services across multiple locations—was recently honoured as the Most Popular Dental Doctor of the Year at the Business World International Awards 2025.

The awards, organised by the US-based Business World International Organisation (BWIO), recognised outstanding business ventures and professionals across various industries. The ceremony was held recently at the Mount Lavinia Hotel in Colombo.

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Another 43 Ceylinco Life sales officers graduate with diplomas in Financial Sales Management

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Ceylinco Life’s latest batch of graduates in Financial Sales Management with Directors of the company and representatives of SLIM.

A group of 43 sales officers of Ceylinco Life recently graduated with diplomas in Financial Sales Management, under a programme tailor-made for the life insurance market leader by the Sri Lanka Institute of Marketing (SLIM).

Covering subjects such as Financial Planning, Communication, Analytical Skills Development, Time Management, Financial Markets, and Taxation among others, the bespoke diploma programme was introduced by Ceylinco Life to enhance the skills, knowledge, and competencies of its sales personnel, and to nurture a highly proficient sales force capable of tapping into premier markets and delivering exceptional services to customers.

The nine-month course programme includes contemporary coursework, examinations and assignments to ensure a well-rounded education for the candidates.

Speaking at the graduation ceremony, Ceylinco Life Executive Director/Chief Operating Officer Samitha Hemachandra said the company had from its inception, placed special emphasis on developing and rewarding professionalism among the members of its sales force. “We led the way in equipping our sales professionals with digital tools, pushed them to obtain professional qualifications from leading international bodies relating to life insurance, to qualify for Million Dollar Round Table membership, and to improve their knowledge in finance,” he said. “As a result, they have earned the respect of the community and their peers, and built stable and lucrative careers with Ceylinco Life.”

SLIM President Prof. Jayantha N. Dewasiri said: “Promoting professional competence as a contributor to the economic growth of our country is one of the objectives of SLIM. In furtherance of this, we provide professional education to thousands of Sri Lankans every year, and are happy to support Ceylinco Life’s efforts to advance the careers of its sales officers though professional development. This is an example to other corporate entities.”

Ceylinco Life’s senior directors Messrs. Devaan Cooray and Palitha Jayawardena, Director/Deputy CEO Ranga Abeynayake, SLIM Vice President – Education & Research Dr Dilhan Sampath Jayatilleke, CEO Chamil Wickremasinghe other distinguished guests attended the graduation ceremony at the Ceylinco Life Auditorium.

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ComBank and Senok unveil special offers on construction machinery and equipment

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Commercial Bank Deputy General Manager – Personal Banking S. Ganeshan and the Deputy Managing Director of Senok Trade Combine Mr Ranjan Dahanayake exchange the MoU in the presence of representatives of the two companies.

Companies in the construction sector have been provided an opportunity to acquire new equipment through affordable leasing options created via a collaboration between the Commercial Bank of Ceylon and Senok Trade Combine (Pvt) Ltd., which represents global brands in construction machinery and equipment.

A memorandum of understanding signed by the two organisations provides for a series of special benefits to be provided to customers who purchase JCB and Kobelco branded construction equipment from Senok under a customised leasing package provided by Commercial Bank.

The benefits include special prices and lower interest rates, customised payment plans with attractive and affordable rentals, and the first three services at 50, 250 and 500 hours, free of charge.

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