As enacted

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Inland Revenue Act 2006 · As enacted · Chapter XVII · Deduction of Income Tax from Specified Fees Paid by Specified Persons

153. Specified persons to deduct income tax from specified fees

Official English translation. The Sinhala text prevails. Open the official Sinhala text, official PDF on documents.gov.lk

(1)

Every specified person shall, subject to the provisions of this Chapter, deduct from any specified fee payable to any person or to any partnership, at the time such specified fee is paid, income tax at the rate of five per centum of such specified fee.

(2)

For the purposes of subsection (1)—

“specified person” in relation to any year of assessment, means any person, partnership or body of persons, who or which either on his or it’s own behalf or on behalf of any other person or persons or partnership or partnerships, is likely to pay or to credit in that year of assessment or has paid or credited in the year of assessment immediately preceding that year of assessment, specified fees aggregating to not less than one million rupees, and

“specified fee” in relation to any year of assessment means any sum or sums aggregating to not less than—

(a)

fifty thousand rupees for any month in that year of assessment ; or

(b)

five hundred thousand rupees in that year of assessment, payable by any specified person in that year of assessment to any person or partnership in consideration of services rendered by that person or partnership, as the case may be, in the course of any business, profession, vocation or other activities of an independent character carried on or exercised by that person or partnership, as the case may be, and includes any commission, brokerage or other sums of like nature payable by such specified person, but does not include any sum payable by such specified person to any employee of such specified person in the course of employment under such specified person or any rent or other payment payable for the use or occupation of any specified land or building, as defined in subsection (2) of section 156.

Read on from s 154