Inland Revenue (Amendment) Act 2021 · As enacted
12. Amendment of section 20 of the principal enactment
Official English translation. The Sinhala text prevails.
Official translationFrom Department of Government Printing, unchanged
Section 20 of the principal enactment is hereby amended as follows: -
by the repeal of subsection (2) of that section, and the substitution therefor, of the following subsection: -
“(2) Where a trust or company is unable to submit the accounts for the period of twelve months of the year of assessment as provided in subsection (1), such trust or company may apply to the Commissioner-General requesting that the accounts based on an alternative period of twelve months be used to compute the income tax payable for a given
Act, No. 10 of 2021
year of assessment. The Commissioner-General may approve such request on such terms and conditions as he thinks fit. The
Commissioner-General may revoke such approval if the trust or company fails to comply with terms and conditions attached to the approval.”.
in subsection (3) of that section, by the substitution for the words “A change in a trust or company’s year of assessment shall”, of the words and the figure
“A change approved under subsection (2) shall not”;
by the substitution for the marginal note of that section, of the following marginal note: -
“Year of assessment”.