Inland Revenue (Amendment) Act 2007 · As enacted
45. Amendment of the First Schedule to the principal enactment
Official English translation. The Sinhala text prevails. Open the official Sinhala text, official PDF on documents.gov.lk
Official translationFrom Department of Government Printing, unchanged
The First Schedule to the principal enactment is hereby amended as follows :—
by the substitution for Part IV of that Schedule of the following P art—
“Part IV
The rates of income tax applicable to certain profits from employment specified in subsection (2) of section 35.
For the year of assessment commencing on April 1, 2006-
Where the period of contribution or the period of service, as the case may be, in relation to the excess referred to in subsection (2) of section 35
(other than any sum referred to in the proviso to that subsection) is less than 20 years.
on the first Rs. 1,000,000 of the sum received
NIL
Where the period of contribution or the period of service, as the case may be, in relation to the excess referred to in subsection (2) of section 35
(other than any sum referred to in the proviso to that subsection) is not less than 20 years.
on the first Rs. 2,000,000 of the sum received
NIL on the next Rs. 500,000 5 per centum on the next Rs. 500,000 10 per centum on the balance 15 per centum
For any year of assessment commencing on or after April 1,
Where the period of contribution or the period of service, as the case may be, in relation to the excess referred to in subsection (2) of section 35
(other than any sum referred to in the proviso to that subsection) is less than 20 years.
on the first Rs. 2,000.000
NIL on the next Rs. 1,000,000 5 per centum on the balance 10 per centum
Where the period of contribution or the period of service, as the case may be, in relation to the excess referred to in subsection (2) of section 35
(other than any sum referred to in the proviso to that subsection) is not less than 20 years.
on the first Rs. 5,000,000
NIL on the next Rs. 1,000,000 5 per centum on the balance 10 per centum.”.
by the addition at the end of Part IV of that Schedule, of the following new Part :—
“Part V
The rate of income tax applicable to any sum referred to in the proviso to subsection (2) of section 35