Postgraduate & Mid-Career Development Unit
Faculty of Management & Finance
Title of the Programme
Semester
Title of the Course
Name of Lecturer
Course Status
No. of Credits
Contact Hours
Rationale & scope
Learning outcomes
Pedagogical Methods
University of Colombo
: Master of Business Administration
: Trimester VI WEEKEND (2017-2019)
: MBAFI-5228/MBA-5228 - Tax Planning and Management
: Mrs. B. A. D. D. Herath, BA (Econ.), MBA
: Elective
: 02
: 33 hours including a workshop.
: The objective of this course is to provide a basic knowledge of
statutory obligations of taxes to be paid in Sri Lanka in respect of
individuals, companies and partnerships, tax concessions and
Administrative provisions of income tax law in the New Inland
Revenue Act No. 24 of 2017 which is effective from 01.04.2018
, basic knowledge in Double Taxation Avoidance Agreements,
Transfer Pricing principals and other types of taxes administered
by the Inland Revenue Department and Revenue Administration
Information system (RAMIS)
: At the end of the course, students will be able to compute the tax
liability of individuals, partnerships, companies and plan their tax
liability according to the accelerated capital allowances, relief and
exemptions provided in the statues.
: Class room lectures, discussions, group presentations by students,
reading recommended books and writing essays on recommended
topics
Session Topic Leaning materials Assignment should be
handed
over on or before
21/12/2019 (i) Overview of the Income tax Act PPT slides and Income
No. 24 of 2017 tax Act No. 24 of
(ii) Residential Status 2017(IR Act)
28/12/2019 Employment Income PPT slides , IR Act ,
gazette, circular, PAYE
Tables
04/01/2020 Business income including banking PPT slides, IR Act ,
and insurance, gazette
11/01/2020 Business income including banking PPT slides , IR Act
and insurance ,Trusts and unit trusts
Partnerships, charitable institutions and
NGOs

18/01/2020 Investment Income and withholding tax PPT slides , IR Act , gazette,
on investment income and service circular
income
25/01/2020 Gain/ losses from realisation on assets PPT slides , IR Act ,
and liabilities gazette, circular
01/02/2020 Qualifying Payments , Rates and PPT slides, IR Act Individual Assignment
Credits
15/02/2020 Returns , assessments, appeals , WHT , PPT slides, IR Act
payments Interest & Refunds

22/02/2020 Penalty, Recovery , criminal provisions PPT slides, IR Act

29/02/2020 Rulings and Administrative provisions PPT slides, IR Act Group Assignment

01/03/2020 Group Presentation

Evaluation:
End of Semester examination 50%
Continuous assessment 50%

The break up of the evaluation is given in item I, II, III and III below.

(I) Group assignment and a 30-minute presentation

There should be five students in a group. Depending on the number of students who follow the
Tax Planning and Management subject, number of groups can be decided.
 Topics
• Transfer Pricing Legislation
• International Taxation and Avoidance of Double Taxation
• Value Added Tax , VAT on Financial Services and Simplified Scheme
• Nation Building tax ,.Economic Service Charge, Stamp Duty, PAYE scheme
• Withholding Tax and Levies imposed under Finance Act which are administered by
the Commissioner General

Each group has to select one topic from the above list of topics , visit relevant entities
and collect information about practical issues . Thereafter , write a report on a selected
entity as the case study of the group and discuss relevant legislation and practical
issues.

Report :
Report should have More than 4500 words. Report should be submitted to the
MBA unit on or before 29th of February of 2020 . - 25 Marks

Individual presentation - 5 Marks

(PRESENTATION ORDER WILL BE GIVEN ONLY ON THE DAY OF THE

PRESENTATION, AND EVERYBODY IS REQUIRED TO BE PRESENT IN
THE CLASSROOM UNTIL ALL PRESENTATIONS ARE OVER. PLEASE
NOTE THAT A QUESTION CARRIES OF 15 MARKS WILL BE GIVEN AT
THE FINAL EXAMINATION BASED ON THE DISCUSSIONS AND
EXPLANATIONS GIVEN AT THE TIME OF PRESENTATIONS BY THE
PRESENTERS AS WELL AS BY THE RESOURCE PERSON)

(II) Individual take-home assignment - 15 Marks

Prepare a case study with regard to an individual who has employment income ,
professional income, business income and gain from realisation and thereafter
compute the income tax liability for the year of assessment 2018/19.

(III) Classroom attendance and participation for lectures - 5 Marks

(IV) End-of-Semester Examination: Open book, number of questions: 5 with few other parts.
Answers for all questions are compulsory.

Late submission policy:

 The following description about academic misconduct, cheating and plagiarism should be
included in the Course Outline under the heading; “late submission policy.”

“Students are permitted to submit their assignments maximum up to five (05) working days
after the due date with the penalty of reduced marks. Penalty of late submission may be
one (01) mark for each working day with the maximum of five (05) marks. No assignment
submitted after this late submission period should be accepted by the lecturer for marking.
If any student requires more than five working days to submit the assignment for a reason
acceptable to the Faculty he or she should make that request well in advance. From the
Programme Coordinator”

Academic misconduct, cheating and plagiarism:

The following description about academic misconduct, cheating and plagiarism should be
included in the Course Outline under the heading; “Academic misconduct, cheating and
plagiarism.”

“Plagiarism is the presentation of another’s academic work without acknowledging

appropriately. Whether one presents another’s academic work as one’s own intentionally
or unintentionally, it is taken as academic misconduct. Not only direct quotation but also
paraphrasing should be acknowledge appropriately i.e. in text citation and referencing
following the APA Manual. Even with proper acknowledgement, inclusion presentation of
another’s academic work in a given assignment should be limited and the limit may vary
from one assignment to another.

Often reported forms of cheating may include copying of another student’s work
completely or partly, getting another to do the assignment completely or partly, inclusion
of the name(s) of student(s) who has/have not contribute to the assignment appropriately
and reporting fieldwork which the student(s) has/have not carried out.”

Recommended readings:

All the documents provided by the Resource Person .

Additional documents can be downloaded from the Inland Revenue web site
“ www.ird.gov.lk” .