Unbounded Honours

Prasad Hewanadugalage
Tax Awards  •  Nominee

Prasad Hewanadugalage

Sri Lanka
Nomination

Why Nominate

Dear Jury, As an accomplished young professional with substantial expertise in the field of Taxation & Accounting your formal request piqued my interest, and I look to be an ideal nominee for the award category as \\\' International tax Advisor\\\' of the year. It is with great excitement that I submit my resume for consideration as a nominee for the given category. I have \\\'seventeen years\\\' of progressive experience as a trained Accounting, Tax, and Auditing Professional. I am a licensed Chartered Accountant and Chartered Tax Advisor (CTA) with CA Sri Lanka, as well as a Fellow Member of the Chartered Institute of Taxation of Sri Lanka (FCIT). I also have a bachelor\\\'s degree in business management (Hons.) from Girne American University in Washington, DC, United States. Currently, I am the Head of Group Tax & Regulatory Reporting at Laugfs Holdings Limited, reporting directly to the Group Finance Director and Group Managing Director. This outlines the key achievements, professional contributions, and work commitment demonstrated by the Head of Group Tax during my tenure. My role has been instrumental in strengthening the Group’s tax governance, ensuring compliance, and positioning the organization as a responsible corporate citizen while contributing to the broader professional fraternity.
  1. Strategic Tax Leadership
  • Spearheaded the formulation and execution of the Group Tax Strategy, aligning tax planning with corporate objectives.
  • Implemented robust tax risk management frameworks across subsidiaries, ensuring compliance with both local and international tax regulations.
  • Played a pivotal role in optimizing tax efficiency, resulting in measurable cost savings for the Group while maintaining transparency and governance standards.
  • Supported business expansion initiatives by providing critical tax advisory on cross-border investments, mergers, and restructuring.
  1. Corporate Sector Contributions
  • Actively liaised with regulatory bodies and government authorities to advocate fair and progressive tax policies.
  • Provided strategic insights on evolving tax legislation, ensuring the Group maintained a competitive yet compliant position.
  • Represented the Group at national and international forums, enhancing its reputation in the corporate sector.
  • Strengthened internal tax literacy by conducting training programs for finance teams across multiple business units.
  1. Knowledge Sharing & Professional Development
  • Delivered technical sessions and workshops for industry peers on emerging tax trends, compliance challenges, and best practices.
  • Authored and presented thought-leadership articles/papers on tax developments, contributing to the knowledge base of the professional community.
  • Shared expertise at technical forums organized by professional associations, supporting the continuous development of members of the fraternity.
  1. Media and Public Engagement
  • Represented the corporate sector in television interviews and panel discussions, providing clarity on complex tax issues for both businesses and the public.
  • Advocated for transparent and responsible taxation practices, improving public perception of corporate compliance.
  • Contributed expert commentary during national budget discussions, enhancing public understanding of tax implications.
  1. Work Ethic & Commitment
  • Demonstrated unwavering dedication to organizational objectives through consistent performance, availability, and strategic guidance.
  • Maintained high standards of professional integrity, fostering trust with both internal stakeholders and external regulators.
  • Championed a culture of compliance and governance, positioning the Group as a benchmark in tax practices.

Recognition

Key Achievements

Tax Savings made on Operating Cash Flows - 2024 /2025 - Laugfs Holdings Limited  Action Taken/Achievement The Group Tax has worked closely with the following business units to overcome previous tax compliance difficulties. As a result, the following pending concerns are resolved, with minimal additional resources expended, where possible. Cash Tax Savings made on Operating Cash Flows by settling tax litigation issues
Company/SBU Tax Dispute Tax Savings (LKR)
Laugfs Holdings  Interest Income on Related Party Loans – YA 2020/2021 6,426,913
Laugfs Eco Sri Interest Income on Related Party Loans – YA 2020/2021 891,134
Laugfs Petroleum Carried Forward Tax Losses – Y/As 2016/17, 2017/18, YA 2018/19 25,032,247
Laugfs Gas Cost of Sales/Inventories/Insurance Income/rent income – YA 2018/19 300,272,789
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