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As enacted
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Contents

Part II

153. Priority of tax

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

(1)

This section shall apply to the following amounts:—

(a)

withholding tax;

(b)

an amount that a payer is required to pay under a notice issued under section 170.

(2)

A person owing, holding, receiving, or withholding an amount to which this section applies shall hold the amount in trust for the Republic of Sri Lanka and, in the event of the liquidation or bankruptcy of the person, the amount:-

(a)

shall not form part of the person’s estate in liquidation or bankruptcy; and

(b)

shall be paid to the Commissioner-General before any distribution of property is made.

(3)

Notwithstanding any other written law, withholding tax withheld by a person:-

(a)

shall not be subject to attachment in respect of any debt or liability of the person;

(b)

shall be a first charge on the payment or amount from which the tax shall be withheld; and

(c)

shall be withheld prior to any other deduction that the person may be required to make from the payment or amount under an order of any court or any law.

Read on from s 154

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