Taxation in sri lanka

[hassen1]

In almost all countries enterprises are taxed on the basis of their trading income. In some countries this may be called corporation or corporate tax, but we in Sri Lanka follow the terminology of SLAS 14 tax and call it INCOME TAX.

There are two main systems for taxing corporate income: the classical system and the imputation system. Each country will be different in its tax legislation and its method of accounting for taxation may reflect this.

[astros99]

Living in a foreign country like Sri Lanka can help alot when it comes to taxes. Especially if it's something like an e-business. I remember reading a while back that for Google AdSense and things like that, you have to pay taxes. But, if you like in a country like Sri Lanka or India, you do not have to pay the taxes required for Google AdSense. Seems cool, huh?