Economic Service Charge (Amendment) Act 2017 · As enacted
3. Amendment of section 3 of the principal enactment
Official English translation. The Sinhala text prevails.
Official translationFrom Department of Government Printing, unchanged
Section 3 of the principal enactment is hereby further amended as follows:—
in the proviso to subsection (3) of that section, by the substitution, for the words “tax payable by such person or such partnership for each such year of assessment.”, of the words and figures—
“tax payable by such person or such partership for each such year of assessment:
Provided further, the balance, if any, of the amount levied for any relevant quarter commencing on or after April 1, 2016 as the 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 two 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 paybale by such person or partner of such partnership for that year of assessment.”; and
by the insertion immediately after subsection (3B)
of that section, of the following new subsection:—
“(3C) The amount of service charge paid by any person or partnership who or which becomes liable to the service charge under paragraph (b)
of subsection (1) of section 2—
may be credited against the service charge liability of such person or partnership which arises under paragraph (a) of subsection (1) of section 2 for any quarter in which the service charge is made under paragraph (b) of subsection (1) of section 2; and
the amount of service charge credited under paragraph (a) and the service charge which had been paid under paragraph (b) of subsection (1) of section 2 but had not been credited as stated in paragraph (a) shall be deducted as in accordance with subsection (1), (2) or (3) of this section.”.