Economic Service Charge (Amendment) Act 2007 · As enacted
3. Amendment of Section 3 of the principal enactment
Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.
Official translationFrom Department of Government Printing, unchanged
Section 3 of the principal enactment is hereby amended as follows :—
by the repeal of subsections (3), (4) and (5) of that section and the substitution therefor of the following subsection :—
“(3) The balance, if any, of the amount levied as Economic Service Charge after the deduction in accordance with subsections (1) or (2) as the case may be, apportioned to each year of assessment within the period of four years immediately succeeding the first mentioned year of assessment and the amount so apportioned to any such year of assessment shall be deducted to the extent, it can be so deducted from the income tax payable by such person or partner of such partnership for that year of assessment.”;
by the renumbering of subsection (6) of that section as subsection (4) thereof ; and
in the renumbered subsection (4), by the substitution for paragraph (b) thereof, of the following paragraph :—
“(b)
The remaining portion, if any, of the balance referred to in subsection (3) after its deduction in accordance with that subsection, be deducted from any income tax payable for any year of assessment succeeding the fourth year of assessment immediately succeeding the first mentioned year of assessment . ”.