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As enacted
Contents

Chapter IX · Special Provisions Relating to the Taxation of Certain Profits and of Dividends Out of Such Profits

50. Rate of income tax on qualified export profits and income of person not being a company, who commenced to carry on any specified undertaking

Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.

Where any person not being a company commences on or after November 10, 1993, to carry on any specified undertaking and the taxable income of that person for any year of assessment commencing prior to April 1, 2014 includes any qualified export profits and income, such income shall be chargeable with tax at the appropriate rate specified in the

Fifth Schedule to this Act.

Chapter X

Companies

Chapter XI

Special Cases a – Children

Chapter XII

Chapter XIII

Payment of Tax by Self-Assessment

Chapter XIV

Deduction of Income Tax from Remuneration of Employees by Employers

Chapter XV

Provisions Relating to the Payment of Income Tax by a Government Institution

Chapter XVI

Deductions from Interest Paid by Banks and Financial Institutions

Chapter XVII

Deduction of Income Tax from Specified Fees Paid by Specified Persons

Chapter XVIII

Chapter XIX

Chapter XX

Deduction of Income Tax from Any Annuity or Royalty Paid or Any Management Fee Paid or Similar Payment Made by Any Person or Partnership

Chapter XXI

Retention of Moneys in Certain Provident Funds

Chapter XXII

Assessments

Chapter XXIII

Appeals A-Appeals to the Commissioner-General

Chapter XXIV

Finality of Assessments and Penalty for Incorrect Returns

Chapter XXV

Tax in Default and Sums Added Thereto

Chapter XXVI

Recovery of Tax

Chapter XXVII

Miscellaneous

Chapter XXVIII

Repayment

Chapter XXIX

Penalties and Offences

Chapter XXX

Administration

Chapter XXXI

General

Chapter XXXII

Interpretation

Chapter XXXIII

Application of the Inland Revenue Act…

Schedules