e produce thought leaders to the nation. WThe Postgraduate Institute of Management (PIM) has been in the forefront in breeding such leaders with character and competence. They are equipped with cutting-edge knowledge and complementary skills needed to perform in both private and public sectors alike. In producing them with clarity and commitment, the PIM has always been a centre of excellence in management education, with its wings spreading beyond .

Excellence is all about being exceptionally good. When applied to enterprises, it involves exceptional achievements in a consistent manner. That’s what the PIM is proud of being a self-financed, semi-autonomous public entity. Now the time has come to expand our reach, regionally and globally through research and teaching. The leadership of the PIM has been entrusted with another generation. Adhering to best practices with appropriate use of technology is the way forward in ensuring enhanced quality and relevance in all our initiatives. The PIM will continue to produce value in practising values, as the nation’s management mentor.

We strive to continuously improve all our programmes. The Master of Business Administration in Taxation (MBAT) commenced in 2015 was an addition to its array of signature programmes. In fact, it was the first specialized MBA in Taxation in South Asia. Having successfully concluded the training of two batches of officers of the Department of Inland Revenue (IRD), we are presently in the midst of training the third batch of its officers. The prime aim of launching such a programme was to enhance the managerial capabilities of the officials of the IRD, and make the department a more effective contributor to the nation’s kitty.

From now onwards, we will open this premier programme to meet the high demand from the public as well. The increasingly competitive world now demands not just to “be an MBA” but “being brilliant as an MBA”. We believe in facilitating holistic learning with quality and relevance. In doing so, we transform mere practitioners to mega professionals who will have global presence with local pulse. That’s why we offer an enriching learning experience in igniting human imagination.

Prof. Ajantha S. Dharmasiri Director and Chairman of the Board of Management 22 3 As the pioneer of advanced management education and training in Sri Lanka, the Postgraduate Institute of Management (PIM) has continued to serve the business community and the Nation for over 30 years. As a semi-autonomous body affiliated to the University of Sri Jayewardenepura, it is governed by a Board of Management consisting of representatives from business, professions and the government. The PIM is the only university institution in the country which is self-financed. The PIM’s core degree programme, the Master of Business Administration (MBA) attracts hundreds of young managers annually, and provides the most challenging learning opportunity in management in Sri Lanka.

4 5 Guided by our strategic direction, the Institute this process, the Institute also gives priority to consciously adopts a series of Mission-driven the study of international business and issues strategies, policies and programmes in the key of globalization. result areas of management education and research: Research in Management Higher Degrees Proudly Continuing Our Tradition Quality in Output The PIM is the leading higher education All our graduates in the corporate sector, institution in the country that conducts public sector management and doctoral research in the discipline of management. programmes are expected to demonstrate This is amply reflected in our claim that high levels of achievement in three areas: our MBA is one of the few, and best MBA programmes in the world, where research l Distinct operational competencies in a is an important and essential component of chosen specialization of management; the degree. While many MBA programmes l Distinct competencies in the generic elsewhere have conveniently abandoned the management skills of interpersonal practice of learning of research, we proudly relations and communication including IT; continue to improve upon the quality of our and research and research related projects in the MBA programme. We have intellectually l Distinct competencies in higher order contributed continuously over three decades. integrative abilities in systems integration, Research interests developed at the Master’s problem solving skills, strategy level are promoted through the doctoral formulation and leadership. programme of study. The Sri Lankan Journal of Management, a bi-annual Journal of the Relevant Education Institute, started in 1996 became the first Sri Lankan journal to be published by EBSCO, Courses of study, areas of specialization a leading global research database. The and majors, and research priorities in Professional Manager Magazine, our other all programmes of study will reflect the bi-annual publication continues to provide Institute’s response to the priority needs a forum for publication and discussion on of industry, government and national various emerging and evolving arenas. development as perceived by the Institute. In

6 MBA in Taxation Learning Goals period, the programme offers approximately 600 classroom interaction-hours and over This programme is in direct relevance to the 60 hours of faculty consultation on skills following Learning Goals (LG). In other words development, directed study and residential on completion of the programme, PIM MBA-T workshops. Since the degree is at Master’s graduates will be able to: level, and should cover imparting adequate a. Recognize the key knowledge, skills and knowledge and skill development, students attitudes at local and global level. have to maintain 70% or more on class b. Reflect with critical thinking and analysis attendance, in addition to the minimum in solving related problems at the apex notional 50 hours per course. level in the fiscal context of the country. Most of the sessions are conducted during c. Reach relevant public and private sector weekends, and part of the work is carried organizations through networking and out through day-time workshops and off- team participation. campus residential programmes. All degree d. Realize the importance of economic, social requirements must be completed within and political concerns and the humane a period of five years of the date of first aspects of business and fiscal activities. registration. A student must earn a total of 60 credits by way of course work, and skills e. Reinforce integrity and ethics in being demonstration. These credit hours (Cr) are conscious about values when decisions are distributed among the following components made. of the regular study programme:

The programme will focus on four key Table 01: Credit structure areas of study: Required Core Courses (18) 36 credits

Elective Courses (03) 06 credits

• Foundation Final Project 18 credits

• Management Total 60 Credits • Taxation • Final Project The Management Skills Project/Management Field Project which is the final project has to Degree Requirements be presented by the student before a panel of viva voce examiners. . The Master of Business Administration in Taxation (MBAT) is one of the specialized degree programmes of the Institute, the duration of which is two years. Organized into eight academic terms during this two-year

7 MBAT 518: Management Skills Project Time Tables (MSP) 18 credits The academic year is organized on a term Through MSP, the student will demonstrate basis. The duration of a term is three months. his/her knowledge and understanding in a The time table will be announced at the chosen area of study via a survey of existing knowledge, and identification of a process/ inauguration of the programme. operation or a management problem requiring solutions in a practical setting, and demonstrate competency in a chosen area(s) MBA Students by designing a project, implementing it and reporting the results obtained. Students are The Postgraduate Institute of Management advised to identify a suitable problem early in (PIM) launched the Master of Business their study programme, and then use the skills Administration in Taxation (MBA-T) as an assignments available in the required courses addition to its range of signature programmes, to prepare for the project to be undertaken in in the year 2015. Having successfully the last term of study. concluded the training of two batches of Required: Approval of management skills officers of the Department of Inland Revenue proposal; submission of project during the last (IRD), we are presently in the midst of training term of study; and oral examination of project the third batch of IRD officers. The aim of (approximately half an hour). launching this signature programme was to enhance the managerial capabilities of the officials of the IRD, and in turn contribute to a Management Field Study Project (MFP) better administration and higher performance Option (16 Credits) in the IRD. Further, this qualification will serve The MFP option is an extension of the case as a requirement for the career development study option, where a student can focus on of these officers within the IRD. performance improvement of a division/ department linked to a course work. This will Meanwhile, the PIM has decided, as mentioned be more related to KPIs of the company which in our previous handbook to open this essentially become a part of performance of precious programme also for the public from a manager. Students selecting the Field study the next intake to broaden the academic and Project Option will need to take one additional practical aspects of graduates/professionals elective which will be an Online Course. This for whom the proposed programme will serve elective will broaden the knowledge, while as a comprehensive course awarded with allowing more specialization in management a qualification certifying that the scholars by gaining competencies in the particular have undergone advanced academic studies field. For instance, one can take the additional in taxation, such as, , Online elective in Training and Development , indirect taxation. This will related to the Field Project. This approach will also serve as an aid for career change and the allow the student to complete the MBAT on progression of the recipient and open avenues time, and gain the required competencies. The to pursue in advanced taxations course Management Field Study Project is presented structures conducted internationally. Further, by the student before a viva panel of academic the recipients will be able to demonstrate and professional evaluators. critical awareness in advanced aspects of

8 taxation and related functional disciplines, iii. A professional qualification recognised by and apply relevant techniques in their roles the PIM as being equivalent to a Bachelors as managerial professionals. They will also Degree of a university, and three years’ deal with practical case studies systematically work experience in a managerial capacity on complex taxation and related issues at an organization acceptable to the PIM, systematically. The entire programme is or teaching/research experience relevant designed in such a way that the ultimate to the programme of study. objective at the end of the programme is to bring out an ethical professional, well iv. Senior Managers, Entrepreneurs and versed in all aspects of taxation. researches whose age is above 35 years, and who are in possession of Managerial experience in an organization with a Who Should Apply sound and remarkable track record in the service. In this category, the PIM will This specialized MBA-T caters for those who adopt a special procedure in determining are involved in taxation at operational and eligibility for selection. policy levels as well as consultants. And also: Basic Programme Entry Criteria Any other individual who is nominated To be eligible for admission to the MBA-T by the Executive Council of the Sri programme, an applicant shall possess: Lanka Institute of Taxation subject to Fellow membership of the Sri Lanka Institute the acceptance of the PIM in the merit of Taxation FTII – Sri Lanka; OR admission category.

Associate Membership of Sri Lanka Institute of Taxation ATII – Sri Lanka with two years of Programme Duration and experience; Extensions with one of the followings: The normal period of study (effective from the date of registration) for the MBAT is two years. i. A Bachelor’s Degree, with at least a second class (Upper Division) pass, Under special or mitigating circumstances in business/ public administration/ acceptable to the Board of Study of the commerce/Economics and management Institute a student may, upon request, be studies from a recognised university. granted extension of registration beyond the normal period of study stipulated for the ii. A Bachelor’s Degree from a recognized programme. The maximum period of study university and at least three years’ work for the MBAT is five years from the date of experience in a managerial/executive first registration in the programme of study. capacity at an organization acceptable Students receiving extensions must pay a to the institute, or teaching/research programme fee for the extended period. experience relevant to the programme of study.

9 Cancellation of Registration will also be awarded to those who do not reach the required level of overall academic The university registration of those students performance measured by Grade Point who cannot complete the postgraduate Average (GPA). degree within the stipulated time will be automatically cancelled. If they still wish to obtain the Degree they must reapply for Further Information for Students admission. Detailed information regarding all the policies and procedures and regulations governing the Student Discipline programme is given in the Student Handbook, which is given free to registered students. In order to secure and maintain professional It is the responsibility of the students to and ethical standards pertaining to discipline, understand and follow the information given students are expected to exercise restraint in this Handbook. in their conduct both inside and outside the Institute. It is the responsibility of each student to obtain a copy of the PIM Student Handbook, and familiarize himself/ herself with the regulations, procedures and guidelines given therein, and adhere to them in pursuing the studies and research prescribed by the Institute.

Residential Workshops An important feature and a value addition of programme delivery is a residential workshop. Usually, it is held in a hotel away from Colombo. Such a workshop helps students and faculty refresh and reflect in a quiet and reposeful environment that promotes creativity in group settings and also for networking.

Postgraduate Diploma Option Students who are unable to complete the MBAT Degree requirements may obtain a Postgraduate Diploma in Management (PGDM). PGDM may be awarded to those students who successfully complete all requirements except those for research and skill competencies. Likewise, PGDM 10 11 The PIM is privileged to offer its clientele MBA with Management Field Project (MFP) the exposure it has gained both locally Component: and globally to meet the growing needs of managerial competencies and professionalism. Course Type No.of Credits The curriculum is structured and designed in Required Core Courses (18) 36 congruence with the evolving world around Elective Courses (04) 08 eighteen core courses and a choice of elective courses. Students are directed to skills Management Field Project 16 development projects in each required course, Total 60 leading to a well-conceived final project in the [The above credit structure is in compliance with second year of study. the Sri Lanka Qualification Framework (SLQF) Exit Level 10 requirements.]

Credit Requirements Grading System A two-credit course which is 30 session hours, is conducted over a period of 10 weeks, and The grading system currently applicable in the a student will complete three such credit programme is as follows: courses in a typical term. Each course will Marking Scale Grade Point have its own scheme of evaluation, including Scale skills and research-based assignments 00 - 59 F 0 and group work, as well as a final course 60 - 65 C 2 examination. The credit structure of the MBAT 66 - 70 C+ 3 Programme under different project options is as follows: 71 - 75 B 4 76 - 80 B+ 5 81 - 85 A- 6 86 - 90 A 7 MBA with Management Skills Project (MSP) Component: 91 - 100 A+ 9 Course Type No.of Credits The pass mark for each credit course is Required Core Courses (18) 36 sixty (60), and the above indicates that the Elective Courses (03) 06 student earns a minimum of 60% for the examination component in order to attain Management Skills Project 18 this grade. A minimum of 60% will also apply Total 60 to all assignments, the aggregate of which would form the total for that module. In order to qualify for the MBAT Degree, the level of performance required at the end of Year II is

12 a GPA of 4.0 (70% or above) or better on the and using non-verbal language. Those who above scale. Those who obtain an average of are adept at persuasive speaking and writing less than 70% or who do not complete the have distinctly better chances of progressing final project will be awarded the Postgraduate up the career ladder. This course is designed Diploma in Taxation (PGDT). to impart participants with a good knowledge of English grammar enabling them to speak confidently and write professionally. Excellence in Performance A Merit Pass in the MBA degree is awarded to a candidate who receives a GPA of 7 or better, MBAT 502: ICT Concepts (Foundation together with a grade of ‘A’ or ‘A+’ for the final Course – 2 Credits) project. The learning environment at the PIM is highly supported by the right balance between technology and relevant subject matter. This course simply provides the Information MBAT 500: Fundamentals of Economics Technology component necessary for the (Foundation Course – 2 Credits) survival of the PIM participants throughout their study programme and beyond. In This course will cover the topics: An this module, participants will be highly overview of the Sri Lankan economy; Key familiarized with the comprehensive usage socio-economic indicators; Basic economic of the “PIM Learning Portal – Prajna” by questions facing societies; Different providing hands on exposure to advanced economic systems; Role of government in a activities supported by the system. These market economy and need for government activities include submitting assignments intervention; ; Tax structure; Role online, participating in online discussion of and its contribution to government forums, sitting online examinations, providing revenue; How are used to promote participants feedback online etc. growth and promote economic stability. The learning highlights of this course are: Advanced use of Word Processing applications Rationale for government intervention; Fiscal for professional and academic work, analytical policy- sources of revenue; International facilities provided by electronic spreadsheet Theory; Border protection and applications, advantages of using databases environmental issues. for data resource management, maximizing productivity by balancing time, cost and quality using electronic project management MBAT 501: Professional Communication software, and the advanced use of electronic Skills (Foundation Course – 2 Credits) presentation application will be the key topics Communication has become the life-blood in of this course. The latter part of the course the modern work place. Unlike in the past, will be conducted at the PIM’s state-of-the- today all employees irrespective of their art IT Centre, for the participants to provide hierarchical positions are required to possess the desired exposure to an actual practical a high competency in all the communication environment. skills: reading, writing, speaking, listening

13 MBAT 503: Business Communication government regulation and stakeholder (Management Course – 2 credits) pressure. This task is further complicated by rapid change, restructuring processes, and This course aims at enhancing the both minor and major crises. The manager’s communication capabilities of the job is not only unpredictable and fraught participants. The key subject areas covered with discontinuity and challenges, but it is are: communication in organizations, also filled with opportunities to make a real classification of information and typologies, difference for the benefit of the organization topics and themes, professional and and the people it serves. business writing, writing of management reports, executive oral presentation skills, The learning highlights are: Recognize the inter-cultural communication; listening key fundamentals of managing organizations; skills, creative thinking, negotiation skills, Reflect on the main challenges associated conducting executive meetings. with managing organizations; Realize the applicability of the basic concepts learnt to Advance Report Writing shall become an the current issues faced by one’s workplace; integral part of this course. Students shall be Reinforce the way how one professionally taught on report writing: collecting data and plays the managerial roles in utilizing information required for the report, doing an management skills in one’s workplace. initial draft, and revising and fine-tuning the draft for its focus and readability. The course MBAT 505: Economic Policy and Taxation will also address common errors in report (Technical Course – 2 credits) writing and sensitizing participants to avoid Economic Policy that is in line with the such pitfalls. Among the learning highlights initiatives taken by a nation to make it will be overcoming communication barriers, economically sound. Taxation, tax principles, creative and critical thinking, executive tax expenditures, tax base and tax rates, and presentations and negotiating, conducting examining economic development accordingly meetings and report writing. This course play key-roles towards the country’s will also be linked to the writing of the final development. Consistent economic and tax project report. policies assist any country to allure investors in the future economic and the forward march of any country. In this course, there MBAT 504: Managing Organizations will be in depth explanations on tax basics, (Management Course – 2 credits) personal income taxes, sales taxes, property Management is fundamental to most activities taxes, corporate income taxes and other we do. This course focuses on fundamentals of revenue sources. Students will be exposed to managing organizations in the contemporary the latest mechanisms in a global context to world. A typical manager works long hours, maintain sustainability of tax revenues over time, various tax compliance models, and the and faces increased complexities posed impact of taxes on the economy. by globalization, domestic competition,

14 MBAT 506: Financial and Management MBAT 507: Organizational Behaviour Accounting (Management Course – 2 (Management Course – 2 credits) credits) Organizational behaviour (OB) is the study Taxation and Accounting are closely of individuals and their behavior within the interconnected. A Tax Consultant should context of the organization in a workplace not only be conversant with theories and setting. In other words, it deals with computations of tax returns but should human behaviour in organizations. OB can also possess a fair knowledge on Financial be regarded as an interdisciplinary field Reporting. Knowledge on Financial Reporting, drawing from numerous disciplines including shall provide a professional tax consultant psychology, sociology, economics, organization an understanding of the financial position theory, statistics and many others. This course and its movement. This will pave the way will offer a range of topics of managerial for prudential tax planning and healthy relevance covering individuals, interactive maintenance of tax cost. Participants not teams and institutions. qualified in the field of accounting shall benefit by following this course; Qualified The learning highlights are: Recognize accountants will be offered an opportunity to the key fundamentals of organizational refresh the accounting practices. behaviour; Reflect on the main behavioural insights related to an individual as well Unlike in the past, a tax professional in an as in interactive teams; Reach individuals, organization should cater not only to the interactive teams and institutions with preparation of financial statements but also confidence; Realize the importance of to the core business of the organization. economic and ecological concerns and the The challenge faced by a tax professional is humane aspects of business activities. to understand the business vibes, maintain the accounting standards and also meet the government expectations in terms MBAT 508: Taxation Legal Framework of . The analytical theories in Policy and Governance (Technical Course – management accounting shall sharpen the 2 credits) decision making of a tax consultant. The tax In general, the basic legal framework calls consultant shall have a 360 degree view before for taxation according to the rule of law. It is a decision is made on account of business. vital to understand the basic framework of the judicial system of a country to interpret Cost analysis theories in management the provisions of the laws enacted taxation accounting shall assist the tax consultant purposes. The intricacies of wordings to figure out the impact of taxation and punctuation marks of legal provision in comparison with production and relevant for taxation can be better construed administration costs of an organization. if participants are provided with a sense of understandings on legal framework and policy. The fundamentals of this framework are: A tax can be levied only if a statute lawfully enacted so provides; A tax must be

15 applied impartially; Revenue raised by a tax issues faced by one’s workplace; Reinforce the can be used only for lawful public purposes, way how one professionally applies the key not for the king’s private ends; Recognize and lessons of HRM in playing a people manager reflect on the fundamentals of Taxation and role in one’s workplace. Governance; Reach diverse organizations, industries and situations with confidence in Taxation and Governance. MBAT 510: Macro-Economic Framework (Management Course – 2 credits) The rule of law contemplates that these Development promotion and impact principles will be enforced by independent assessment require a good understanding of courts. The role of the courts is often referred macro-economic variables. Indicators such as to in this course. Tax laws must be drafted GDP growth, balance of payments position, in the context of this legal framework. This budgetary out tern, inflationary trends, as well course reviews the principles underlying as exchange rate and interest rate changes the framework in general terms, and on a reflect public policy and management. Even comparative basis. Also it is vital to explore those who are solely engaged in service the convergence and divergence in the debate delivery functions such as issuing of licenses over taxation and governance. and permits contribute, at least indirectly, to MBAT 509: Human Resource Management these variables. In any case, the whole system (Management Course – 2 credits) of development planning, including those at the sectorial, project or regional levels, is In the competitive world of business, Human based on the framework of macro-economic Resource Management (HRM) function has variables. a strong bearing upon an organization’s corporate strategy formulation and implementation. As organizations move MBAT 511: International Taxation Policies away from the industrial age dominated by and Law (Technical Course – 2 credits) factory labour practices to the information age, characterized by the power of the The globalization of trade and investment knowledge worker, the HRM -corporate profoundly affects the practices and policies strategy link is receiving greater attention in of international taxation. Tax advisors, tax all aspects of management. In this context, professionals and government tax officials managing people, the most precious resource increasingly operate in a multinational in an organization, is increasingly becoming world in which knowledge of only domestic important in order to sustain a profitable rules is inadequate. For those who expect growth. international to play an important role in their professional careers, this core The learning highlights are; Recognize the course is a must. The course provides students key fundamentals of HRM; Reflect on the a firm grounding in the international tax main challenges associated with HRM; systems, and offers subjects that reflect Reach diverse organizations, industries the globalization of tax law principles and and situations with confidence; Realize the practices. Students will be benefited by way applicability of concepts; Learnt the current of several sessions on international tax law

16 available including modules on international demand, and most of the organizations taxation, tax treaties, international tax rely on individuals with capacities in such policy, and regional systems of taxation. caliber. The practice of decision making solely There shall be an introduction to basic being left with Board of Directors or Top concepts in Transfer Pricing procedures Management of an organization is obsolete including the relevance of OECD, intangibles, nowadays, and the decision making process financial transactions and advanced pricing has been decentralized from top management agreements. cascading up to level of a minor employee of an organization. Many organizations have provided avenues in this process where MBAT 512: Information Management speak up policy, web based suggestions (Management Course – 2 credits) corner, implementing cost saving committees etc. have been formed in organizations to This course aims at strengthening the ICT encourage participation of every employee awareness and capability of participants. in the decision making process. Incorrect, The topics covered are: business and ICT, invalid, late decision makings have set out the business value of ICT, the use of ICT many bad experiences in organizations and, for competitive advantage, ICT strategy therefore, decision making is a vital process vis-a-vis business strategy, DMS and data in today’s business world. Hence, improving warehouses, the Internet and e-Business, the participant’s skills in the decision making knowledge management in organizations, process and upgrading the talents in each intra-organizational and global information and every participant towards foreseeing the systems, enterprise information systems, consequences of the potential decisions that security and control. The learning highlights are going to be made, are the core components include: enterprise systems, business impact of this course. of the internet, effective selection and implementation of ICT systems, ROI on ICT investments. This will also cover how IT can MBAT 514: Indirect Taxation in Sri Lanka be used to streamline tax revenue in a country (Technical Course – 2 credits) like Sri Lanka. In the recent past, the unveiled its economic policy laying MBAT 513: Management Decisions and down its intention to reduce the gap between Implementation (Management Course – 2 direct and indirect taxation to 60:40. It is, credits) therefore, evident that indirect taxation, has a greater impact on both economy and The prime objective of this module is to the government. Hence, it is expected that emphasize the vital roles that have been participants shall have a role to play in the entrusted with the individual participants process of finding out the ways and means to of this programme at their respective balance indirect and direct taxes in order to organizations with regard to error-free bring out a sustainable economy. Further, it decision making and implementing them is prudential to understand the government efficiently. Unlike in the past, accurate, policies and the mechanism of imposing, timely decision making has an overwhelming

17 operating and managing indirect taxes. a variety of industries and competitive Understanding the intricacies of indirect taxes situations, and especially, to provide a would empower the participants to interpret stronger understanding of the competitive the provisions of the respective tax statutes challenges of a global market environment; accurately, and analyse the operation and To identify the keys to crafting business management of the respective taxes in order strategy, reasoning carefully about strategic to find out suitable structure options, using “what-if” analysis to evaluate for the economy. Also it is vital to have fair action alternatives, and make sound strategic amount of knowledge on a few indirect taxes decisions; To develop the capacity to think operated in other economies. A study on such strategically about a company, its present other taxes shall help the participant derive business position, its long-term direction, its the underlying policies and principles behind resources and competitive capabilities, the the taxes outside Sri Lanka. caliber of its strategy, and its opportunities for gaining sustainable competitive advantage; This course shall contain an in-depth learning To perform the managerial tasks associated of indirect taxes operated in Sri Lanka, and with implementing and executing company shall mainly focus on the impact of indirect tax strategies, integrating the corporate strategy on the Sri Lankan economy and its operational with business and functional strategies; process. The impact and other types of To gain an understanding of implementing indirect taxes operated in other economies, strategies through different management practical issues faced by the public in relation techniques. to the provisions of the indirect tax statutes, and tax planning in relation to indirect taxes. The study of indirect taxes are always in MBAT 516: Transfer Pricing (Technical conjunction with the basic attributes such Course – 2 credits) as type of taxes, nature of tax, tax collection Transfer Pricing has become an increasingly methodology, tax liability, , interesting subject with the spread of investment and savings and social coverage. commercial transactions under globalization. It continues to be a burning issue on many fronts. With globalization, the quantum of MBAT 515: Business Strategy (Management international trade has grown many folds. Course – 2 credits) Many multinationals and other groups of The main aim of this course is to sharpen the companies tend to find avenues to reduce participants’ understanding and approach taxation by having establishments in tax to strategic management, and improve their havens or in countries where lower rate taxes skills of practical applications of strategy. exist. This has opened doors to many studies Fundamentally the course encapsulates in price manipulations and profits shifting strategy formulation, strategy implementation globally; some of the price manipulations are and strategy evaluation. This course also to derive the economies of value whereas works as the core subject by integration of some are merely with the intention of knowledge of other courses. The learning tax reduction stemming from fictitious highlights of this course are: To gain skills transactions. All these have cumulated to a needed to conduct strategic analysis in comprehensive technical study under this

18 course structure. It will examine the legal and enduring taxation problems within the framework for transfer pricing and the role above-mentioned subject areas. Further, an of the OECD Transfer Pricing Guidelines. The appreciation and understanding of the multi- course shall also focus on issues faced in faceted approaches which may be adopted audits and complex issues such as intangibles for problem solving, and which are evident in and BEPs. this course, can enhance the prospects of the ultimate resolution of these problems. The objectives of this course are basically two-folds. Firstly, the students are required This course also extends to the extent that to understand the fundamental Transfer the seeds of the expected final project of the Pricing issues and practices in the current and individual participant can be planted here as evolving world of business and government. an initiative Secondly, they must acquire practical skills of a Transfer Pricing specialist who is responsible for the management of Transfer Pricing issues.

MBAT 517: Contemporary Issues in Tax Administration (Technical Course – 2 credits)

This course structure provides insights into the areas of the issues cropped up in the field of taxation and specifically “”. Participants are expected to actively participate in debating over contemporary tax issues and brain storm to bring about possible solutions that are viable and actionable within the legal framework. Also a flashback on technical modules shall be reviewed deriving the inference out of associated problems encountered. Tax Planning, , Tax Incentives and their economic impact, issues cropped up in Tax Administration procedure covering assessments, appeals, defaults and objections would be discussed in details in order to arrive at a common understanding.

The treatment of the material in this course by participants from various academic disciplines and with differing geographical perspectives also gives distinct and instructive insights into widely recognized

19 Electives - Management MBAT 601: Sustainability (Elective Course - 2 credits)

The rising influence of business in the MBAT 600 – Entrepreneurship (Elective utilization of limited resources and the Course - 2 Credits) reality of climate change led extreme The knowledge on entrepreneurial aspects weather impacts supply chains and corporate would be highly advantageous to the strategy in a significant manner. The United participants. Nations initiated, Paris Agreement ratified by 194 nations in December 2015, made This course makes students to familiarised a commitment to achieving the 17 UN with the key concepts, theories and sustainable development goals 2016-2030. application, reflecting the breadth The global agenda for nations to pursue and diversity of entrepreneurship. An sustainable development is only possible if entrepreneur is a person who develops a business ‘Embeds Sustainability in Corporate business plan, executes it and maintains Strategy’. However, business leaders and the same while facing the risk components strategists have not been exposed to the associated with entrepreneurship. subject of sustainability and this has led to Entrepreneurs are risk takers and always many corporate strategies not embedding exposed to the possible risks associated with sustainability in corporate strategy. the business. Therefore, risk identification, quantification and action plan for risk Sustainability prepares future business mitigation are inevitable components for an leaders to be competent and enlightened on entrepreneur. The entrepreneurial techniques the global agenda of sustainable development always revolve around developing a business and how every business has an opportunity plan, hiring human resources, acquiring to ‘Embed Sustainability in Corporate financial and material resources, providing Strategy’ by creating new sustainable blue leadership, risk taking and risk mitigating. ocean market spaces that meet the needs of Entrepreneurs are always promoted by the consumers and business in a strategic and government with the view to minimising sustainable manner. Most of the enlightened unemployment, expanding in economic businesses have already done so; Unilever, development, enhancing GDP, encouraging General Electric, Apple, Amazon, Google, Tesla, the development of small and medium scale IKEA. enterprises and, promoting foreign currency inflow through oriented entrepreneurs.

20 MBAT 602: Public-Private Partnerships and Electives - Technical Joint Ventures (Elective Course - 2 credits)

In the recent past many projects of the MBAT 603: Advanced International government have been initiated in conjunction Taxation & Transfer Pricing (Elective with the private sector. The Strategic Course - 2 credits) Development Act was brought in by the government to encourage the private sector Advanced International Taxation section to step into the projects with government, encapsulates the subject matters of advanced and obtain tax and other reliefs. Many private methods in relief from International Double organizations have stepped into the projects Taxation Conventions (DTCs) (i.e. relief by commenced recently by the government, deduction of foreign tax credits / relief by providing the services in the nature of deferral), a critical analysis by making a constructions, power supply, logistic services, comparison between the UN Model and OEDC telecommunication services, consultancy model used for the formation of International services (architectural, interior planning, Conventions, Taxation and designing, engineering etc.), management International Human Rights Instruments, services etc. The Impact of Non Decimating Articles and resolution of disputes under DTCs, The Many of the projects have been provided with application of DTCs on E-Commerce and a bundle of concessions including tax. The Digital Economies. private sector clients engaged in the respective projects are in need of tax consultancy to Advanced Transfer Pricing: Transfer Pricing distinguish the goods or services falling under and BEPS; Transfer Pricing and Developing tax concessions and other ongoing business Countries; State Practice with regard to Thin transactions. It has also become tedious to Capitalization; Advanced Pricing Agreements; find out whether the exemption provisions Tax Havens shall also be critically reviewed. provided in another act overrules the Inland Revenue Act. The module has been specifically introduced to Tax Consultants who wish to pursue Public Private Partnership extends to the level examinations conducted for tax purposes that an arrangement between the government globally, and for scholars who wish to extend or statutory entity or Government owned cross boarder tax consultancy services. entity reaching out for a consensus to form a partnership for the purpose of jointly carrying out a task with the private sector. MBAT 604: Tax Case Law (Elective Course - 2 credits)

Legal case laws set out precedence to the similar or equal type of transactions or incidents taken place at present. In the field of taxation, the case laws already decided and concluded provide a fertile ground for the tax consultants to construct their

21 arguments in the process of tax appeals. The industry capturing both Direct and Indirect Tax Appellate procedure in Sri Lanka begins taxes. at Inland Revenue and un-resolved matters The course sets out to undertake the study cascade to the Tax Appeals Commission of tax implications arising from specific and any further unresolved matters finally industries established in the Sri Lankan spill over to the courts system ending at the economy including agriculture, trade, Supreme Court of Sri Lanka. Tax Case Laws in manufacturing, services and SMEs etc. These between the Tax Appellate Procedure provide various industries are encountered with ample ammunition to enrich the arguments, different direct and indirect taxes. and support similar types of transactions or incidents. Tax implications cropping up in the usage of financial instruments and recent An understanding of the basic legal developments visible in adopting of procedures affiliated with the case laws (i.e. accounting standards in the caliber of IFRS application for writs from a competent court would also be discussed under this course. in Sri Lanka) strengthen the skills adding value to the Tax Appellate Procedure. The course shall critically analyse the areas of Elective - online capital and revenue expenditure, carrying on a business or determining an isolated An additional elective course will be delivered transaction with no commercial value, online for those who have selected the distinguishing income and other sources, Management Field Project (MFP) employment income and services rendered in the course of employment, transfer pricing and profit shifting, burden of proof, glimpse of the Tax Appeal Commission etc.

MBAT 605: Industry Specific Tax Analysis (Elective Course - 2 credits)

The subject attempts to discuss the Tax Impact on the different Industries (i.e. Manufacturing, Services, Transportation, Telecommunication, Banking etc.). Tax treatment on different industries vary as per the respective provisions available in the tax statutes. The participants are expected to have an overall knowledge on the tax implications of different industries ranging from Individual employees to Multi-National Companies. The module shall provide an understanding on ascertaining the tax treatment on each

22 The PIM Research Centre was set up in May 1998. In addition to administrating the Institute’s doctoral programme, it organizes, directs and promotes interdisciplinary studies and research in the various issue areas of the discipline of management, with a focus on cross-cultural management and communication. The primary objective of the Centre’s work is to add significantly to the understanding of the best management practices in the country and the rest of Asia. The approach is interdisciplinary, and an attempt is made to integrate, or benefit from the perspectives of culture, religion, language, history, sociology, political science, economics and philosophy for the purpose of understanding key issues in management in South and South-East Asia. International cooperation in these efforts is expected to result in a wide range of benefits in other areas of national importance such as international cooperation in education, international business and trade and intercultural cooperation. The current programme of research emphasizes the following areas of concern: a) General management: e.g., best management practices in Sri Lanka and the Asian region. b) Comparison of cultural value themes of the predominant Asian societies: e.g., contributions to cross-cultural studies such as Hofstede’s framework of value dimensions. c) Examination of the cultural context of management practices in Sri Lanka with an emphasis on work values and human motivation, innovation, adaptation and dealing with risk and uncertainty, interpersonal behaviour such as coping, asserting and supporting, decision making, and use of information, communication and business negotiation, productivity and similar issues. d) Industry-specific studies: e.g., strategic directions of investments in a selected industry category. e) Policy-directed studies: e.g., study of specific public policies in selected areas of national interest such as energy, transportation, fiscal policy and administration.

Activities The PIM’s research studies fall into three categories: a) Faculty research, b) Research projects funded by the Institute, and c) Student research resulting from their theses, research papers, policy reports and field projects. They are published through Research Papers, Case Studies, Research Abstracts and the Institute’s Sri Lankan Journal of Management. Conferences and workshops held periodically provide an opportunity to discuss research findings. All students’ research reports are available for reference in the PIM Library. Lists of research titles are available on line. d) Industry surveys under applied research.

23 GENESIS: THE BUSINESS INCUBATOR OF THE POSTGRADUATE INSTITUTE OF MANAGEMENT (PIM)

Among the wide range of initiatives of the Postgraduate Institute of Management aimed at stimulating and supporting entrepreneurship, ‘Genesis’, its business incubator is established for the Institute’s MBA students who, in their final project, are pursuing the option of starting up a business through an Entrepreneurship Skills Project.

The PIM realizes its responsibility to provide opportunities for creating independent and self- made careerists, and popularizing and supporting entrepreneurs as one sure way of meeting this objective. However, due to the numerous constraints any budding entrepreneur has to face, ‘Genesis’ is designed to assist them by providing the required coaching and mentoring as well as educating them on lean startup methodologies, ably supported by the Institute’s competent academic staff and the alumni with their well-spread linkages and networks.

As a facility housed in the PIM, the Genesis provides the following specific services to MBA students.

in order to clarify issues and discuss the progress of their startups. • Providing space for them to meet with coaches, mentors, business partners and customers

assistance of academics and industry specialists. • Advising on Project documentation as well as supervising and guiding them with the

• Project monitoring and providing feedback by skilled facilitators.

Further,• Coaching incubatees through are provided a series of opportunities in-house workshops. to participate in two key-events during the process, namely, ‘Entrepreneur Live’ (an in-house conference with presentations by prominent alumni entrepreneurs), and ‘Innobiz’ (the joint launching of startups of the incubates).

The Genesis also partners with local universities, who through their specialization of fundamental research intend commercialization of innovations (like the Centre for Bio-Medical Innovation of the University of Moratuwa). The Genesis has also developed inks with a number of growing industry-linked incubators.

24 Cooperation with foreign universities and foreign management institutes has been a principal means by which the groundwork for the PIM has been laid over the past three decades. The PIM gives high priority to the development of links with reputed educational institutions abroad. The desire to develop expertise and promote disciplined development in the international context is the driving force behind the quest for cooperation. The policy of the Institute is to cooperate with centres of higher learning worldwide. In particular, the PIM looks forward to forge links with centres of excellence in the Asia-Pacific Region, the South Asian Association for Regional Cooperation (SAARC), the Indian Institute of Management (IIM) and Universities elsewhere. The Postgraduate Institute of Management has established research collaboration with the School of Business, University of New South Wales (UNSW), Canberra. The two institutions will collaborate in research activities in business, economics, management, and public policy. The School of Business (SBU) is one of the four Schools at the UNSW, Canberra. While only 5% of business programmes worldwide are accredited by the Association to Advance Collegiate Schools of Business (AACSB), the SBU is the only AACSB-accredited business school in the Australian Capital Territory Region. The SBU conducts active research programmes in Governance and Public Sector Accounting, Econometrics and Economic Analysis, Human Resource Management, Entrepreneurship and Innovation, Logistics and Big Data Analytics, Leadership, and Change management, Public Sector Management and Marketing. The UNSW is a founder member of the Group of Eight and one of Australia’s leading research intensive universities. It was ranked 48th in the 2014 QS World University Rankings. The UNSW was recognized in the ‘2012 Excellence in Research for Australia Report’, which assessed the University’s performance in all broad fields of research as “at, above or well above” world standard. UNSW research strengths span a broad and diverse range of disciplines. The UNSW and the PIM undertake joint academic research projects in areas of mutual interest, exchange of faculty and promotion of PhD Programme of the PIM, Master Graduates and PIM students, and Faculty Members to undertake PhD Programme at the UNSW, Canberra. The UNSW awards scholarships to outstanding students. Prof. Ajantha S. Dharmasiri (Chairman) Director, Postgraduate Institute of Management

Mr. Priyantha Mayadunne Secretary, Ministry of City Planning, Water Supply & Higher Education

Dr. U. Anura Kumara Dean, Faculty of Management Studies and Commerce, University of Sri Jayewardenepura

Mr. Harsha Fernando Consultant, Asian Development Bank

Mr. Asoka Hettigoda Managing Director, Hettigoda Group

Senior Prof. Sudantha Liyanage Dean, Faculty of Applied Sciences, University of Sri Jayewardenepura

Senior Prof. M M Pathmalal Dean, Faculty of Graduate Studies, University of Sri Jayewardenepura

Mr. A Saarrankan Director, Department of Fiscal Policy, Ministry of Finance and Mass Media

Mr. Deepal Sooriyaarachchi Management Consultant

Mr. Lasantha Wickremasinghe Immediate Past President, Institute of Chartered Accountants Sri Lanka

26 Prof. Ajantha S. Dharmasiri Director, Postgraduate Institute of Management Dr. Fredric Abeyratne Consultant, Policy Initiative, UNDP Dr. U Anura Kumara Dean Faculty of Mgt. Studies and Commerce, University of Sri Jayewardenepura Dr. Indrajit Coomaraswamy Governor, Central Bank of Sri Lanka Dr. Damitha De Zoysa Consultant, Financial City Project Dr. Lloyd Fernando Senior Consultant, Postgraduate Institute of Management Dr. A K L Jayawardana Senior Consultant, Postgraduate Institute of Management Dr. Trevor Mendis Head of Academic Affairs, Postgraduate Institute of Management Mr. Eardley Perera Company Director/Consultant, Director, Dunamis Capital PLC Dr. Travis Perera Senior Consultant, Postgraduate Institute of Management Mr. Moksevi R Prelis Company Director and Chairman, Capital Trust Securities (Pvt.) Ltd. Dr. Sarath Rajapatirana Economic Advisor to H E President Mr. W A Wijewardena Former Deputy Governor, Central Bank of Sri Lanka 28

PIM Graduates are expected to join the PIM outstanding achievers among the members Alumni Association. This Association provides of the PIMA. opportunities for all PIM graduates to meet, learn, socialize, and network. There is an admission fee and an annual membership fee The Vision and Mission of the PIMA is as to be paid. The PIMA is active in providing its follows: members with opportunities for continuing education, and it is a forum for the PIM graduates to develop their professional Vision careers. Some of the important activities that To transform PIM Alumni into a community of have been initiated to meet its objectives are, Thought Leaders that will shape the nation’s socio-economic fabric. ¡ Continuous Professional Development (CPD) programmes for its members. ¡ A Series of Public Interest Programmes Mission (PIP) to address issues of interest that are To bring together and develop PIM Alumni topical and significant to Management. through unique continuous professional ¡ A series of programmes titled ‘Developing development programmes to forge links with Managers for the Future’. the country’s Business and public sector ¡ Presentation of ‘National Management communities through unique Public Interest Award’ in order to recognize the programmes.

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