2. Imposition of Income Tax

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

(1)

Income tax shall, subject to the provisions of this

Act, be charged at the appropriate rates specified in the First,

Second and Third Schedules to this Act, for every year of assessment commencing on or after April 1, 2000, in respect of the profits and income of every person for that year of assessment—

(a)

wherever arising, in the case of a person who is resident in Sri Lanka in that year of assessment ; and

(b)

arising in, or derived from, Sri Lanka in the case of every other person.

(2)

For the purposes of this Act, “profits and income arising in, or derived from, Sri Lanka” includes all profits and income derived from services rendered in Sri Lanka or from property in Sri Lanka, or from business transacted in

Sri Lanka, whether directly or through an agent.

Chapter II

Income Chargeable with Tax

Read on from Chapter II

Chapter III

Exemption from Income Tax

Read on from Chapter III

Chapter IV

Ascertainment of Profits or Income

Read on from Chapter IV

Chapter V

Ascertainment of Total Statutory Income

Read on from Chapter V

Chapter VI

Read on from Chapter VI

Chapter VII

Ascertainment of Taxable Income

Read on from Chapter VII

Chapter VIII

Rates of Income Tax on Persons Other Than Companies

Read on from Chapter VIII

Chapter IX

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

Read on from Chapter IX

Chapter X

Companies

Read on from Chapter X