Improper Recognition of Foreign Funding for the Stated Capital

Maheshika, U.P.W.; Sujeewa, G.M.M.

Improper Recognition of Foreign Funding for the Stated Capital

Maheshika, U.P.W.; Sujeewa, G.M.M.

URI: http://repository.kln.ac.lk/handle/123456789/12194

Citation: Maheshika, U.P.W. & Sujeewa, G.M.M. 2016. Improper Recognition of Foreign Funding for the Stated Capital. Case Studies in Accounting “Bridging the Gap”, 03: pp. 60-63. Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka.

Date: 2016

Abstract:

Royal (Pvt) ltd is a limited liability company, which was incorporated on the 28thof October 2014. This company is a joint venture company, jointly controlled by Royal international company in India and Royal Ltd in Sri Lanka who has 50% ownership equally. The client’s trading is mainly focused on printing of labels and tags. This case is relating to the foreign funding for the share capital and mainly discusses about the implication of the stamp duty act No 43 of 1982, Inland Revenue act No 10 of 2006 and company act No 07 of 2007.

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