11 Questions
According to residency rules, a company is considered a resident in Sri Lanka if
its management and control is exercised in Sri Lanka at any time during the year
During the year of assessment 2018/19, how many days did Mr. Philip spend in Sri Lanka?
185 days
What is the primary source of income considered for a year of assessment?
Employment income
What type of income does not include profits of a casual and non-recurring nature?
Other income
Which of the following is NOT a condition for a company to be considered a resident in Sri Lanka?
Incorporated in a country other than Sri Lanka
What is the total number of days Mr. Philip spent in Sri Lanka?
185 days
A company's management and control can be exercised in Sri Lanka for
at any time during the year
What type of income includes gains and profits from conducting a business?
Business income
A person's income from an investment for a year of assessment is
the person's gains and profits from conducting the investment
What is NOT a condition for a person to be considered a resident in Sri Lanka?
incorporated under the laws of Sri Lanka
According to the residency rules, a person's income from other sources of assessment is
the person's gains and profits from any source of any kind
Learn about the social functions of taxation, including discouraging undesirable activities, encouraging desirable ones, and reducing income disparity between the rich and poor. Discover how taxation can shape society's behavior and economy.
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