Taxation Explored 2021

Who is the present governor of CBSL?

• Indrajith Coomaraswamy

• W.D. Lakshman

• Ajith Nivard Cabraal

• Basil Rajapaksa

..... is a progressive tax.

• VAT

• ESC

• Income Tax

• NBT

What is the income tax threshold for an individual in Sri Lanka?

• Rs.2500,000 Per annum

• Rs.3000,000 Per annum

• Rs.3500,000 Per annum

• Rs.5000,000 Per annum

What is the current exchange rate of the US Dollar to LKR?

• Rs.256

• Rs.199

• Rs.147

• Rs.175

What statement is correct in relation to indirect taxes?

• Tax burden cannot be shifted.

• Generally, taxes are progressive.

• It has a low collection cost.

• Collected by the revenue authority.

APIT means

• Advanced Property Income Tax

• Advanced Personal Income Tax

• Advanced Personal Individual Tax

• Advanced Property Individual Tax

Who is the regulatory body of the Colombo Stock Exchange?

• Cental Bank of Sri Lanka

• Security Exchange Commission of Sri Lanka

• Sri Lanka Monetary Board

• Sri Lanka Investment Board

Which tax is more contributed to the Sri Lankan tax revenue in 2020?

• VAT

• Income Tax

• Excise Duties

• Import Duties

What is the main tax collection authority in Sri Lanka?

• Board of Investment of Sri Lanka

• Department of Inland Revenue

• Sri Lanka Port Authority

• Department of Excise

What is the current tax rate on VAT?

• 8%

• 11%

• 12%

• 15%