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As enacted
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30. Amendment of section 85 of the principal enactment

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

Section 85 of the principal enactment is hereby amended as follows: -

(1)

in subsection (1) of that section, by the substitution for the words “shall withhold tax”, of the words and figures “shall, prior to January 1, 2020, withhold tax”;

“Advance

Income Tax

Act, No. 10 of 2021

(2)

by the insertion immediately after subsection (1) of that section, of the following new subsection: -

“(1A) Subject to subsections (2) and (3), a person shall withhold tax at the rate provided for in paragraph 10 of the First Schedule to this

Act, where such person pays a dividend, interest, discount, charge, natural resource payment, rent, royalty, premium, service fee or an insurance premium with a source in Sri Lanka to a non-resident person.”; and

(3)

in the marginal note of that section, by the substitution for the words “fees and contract payments.”, of the words “fees, contract payments and payments to non-residents.”.

Read on from s 31