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Taxation in Sri Lanka mainly includes excise duties, value added tax, income tax and tariffs. [1] Tax revenue is a primary constituent of the government's fiscal policy . The Government of Sri Lanka imposes taxes mainly of two types in the forms of direct taxes and indirect taxes.
Education in Sri Lanka has a long history that dates back two millennia. While the Constitution of Sri Lanka does not provide free education as a fundamental right, the constitution mentions that 'the complete eradication of illiteracy and the assurance to all persons of the right to universal and equal access to education at all levels" in its section on directive principles of state policy ...
Sri Lanka is a democratic republic and a unitary state which is governed by a semi-presidential system. [198] Sri Lanka is the oldest democracy in Asia. [199] Most provisions of the constitution can be amended by a two-thirds majority in parliament.
The employer of every employee to whom this Act applies shall be liable to pay an amount equal to three per centum (3%) of the total earnings including Wages, salary or fees, Cost of living allowance, special living allowance and other similar allowances, Payment in respect of holidays, The cost value of cooked or uncooked food provided by the employer to employees, Meal allowance and Any ...
The Sri Lanka Interbank Payment System, commonly known as SLIPS, is a LKR-only online interbank payment and fund transfer system in Sri Lanka. [1] [2]SLIPS is owned by LankaClear, an organization owned by the Central Bank of Sri Lanka and all Licensed Commercial Banks operating in Sri Lanka, with 47.19% of shares held by the CBSL and State owned commercial banks, and 52.81% by other private banks.
Services accounted for 58.2% of Sri Lanka's economy in 2019 up from 54.6% in 2010, industry 27.4% up from 26.4% a decade earlier and agriculture 7.4%. [40] Though there is a competitive export agricultural sector, technological advances have been slow to enter the protected domestic sector. [41]
The Sri Lankan Ordinary Level (O-level) formerly called Senior School Certificate (SSC), is a General Certificate of Education (GCE) qualification in Sri Lanka, conducted by the Department of Examinations of the Ministry of Education. It is based on the Cambridge University Ordinary Level qualification.
The Accounting in Sri Lanka is regulated under the several legal regulations. There are several professional accountancy body in the country. The Sri Lanka Accounting and Auditing Standards Monitoring Board (SLAASMB) is the audit oversight entity, while the Auditor General of Sri Lanka has audit oversight over government all entities. [1]