70% of Sri Lankan Tamils in Sri Lanka live in the Northern and Eastern provinces. Although Sri Lankan Tamils are culturally and linguistically distinct, genetic studies indicate that they are closely related to Sinhalese ethnic group in the island.
Definition: Under international financial reporting standards, a functional currency is the currency used in the primary economic environment where an entity operates. This is the environment in which an entity primarily generates and expends cash.
QBU can choose which of the currencies to use as its functional currency. Â§ 1.985-1(c)(4). â¢ The functional currency of a QBU for U.S. GAAP ordinarily is accepted for tax purposes, provided the GAAP determination is based on similar factors. Â§ 1.985-1(c)(5). 15