Former Senior Commissioner of Inland Revenue and former CEO of the Sri Lanka Institute of Taxation H. M. Premaratne Banda was elected as the President of the Sri Lanka Institute of Taxation at its Annual General Meeting held on June 28, 2017.
The Executive Council of the Institute consists of 11 veteran tax professionals including three members appointed by the Ministry of Finance - H. M. Premaratne Banda –President, T. Prasanga Ranwatte - Vice President, T. Rameshkumar – Secretary, J. N. Telly Fernando – Treasurer and Council members - S. Balaratnam, Dr. J. A. S .Felix, D. L. B. C. Perera, Damith Gangodawila, P. Ruwan C. Gamage, Melvin Peiris and Thakshilla Karunasekera.
The Sri Lanka Institute of Taxation was formed in 1992 incorporated under the Act of Parliament No.21 of 2000. It is the only national statutory body of tax professionals, which conducts professional study courses in taxation in Sri Lanka.
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.