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As enacted
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Contents

Part II

173. Non-arm’s length transferees

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

(1)

Where a taxpayer’s liability has not been satisfied after levy of execution on property known to the

Commissioner-General, a person who has received assets of the taxpayer in a transaction that is not at arm’s length in the period of one year preceding the date of the levy shall be secondarily liable for the tax to the extent of the value of the assets received.

(2)

Provisions of subsection (1) shall not apply to an amount for which a person is liable under section 148.

Read on from s 174

Schedules