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As enacted
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Contents

Part II

150. Refundable amounts

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

(1)

Where the amount of tax which has been paid by a taxpayer exceeds the amount of tax assessed or found to be payable, the Commissioner-General shall —

(a)

refund the amount against the taxpayer’s assessed liability to pay tax, interest, late fees, or penalties under this Act; and

(b)

unless the taxpayer objects, apply an amount remaining against the taxpayer’s liability to make advance payments of tax that shall become due within the succeeding six months.

(2)

Subject to subsection (1), refundable amounts shall be paid to the taxpayer.

(3)

A refund or credit may be made under this section only if the taxpayer applies for it within four years of the date of payment or, if made on the Commissioner-General’s initiative, within the specified time period.

Read on from s 151

Schedules