58. Amendment of the Third Schedule to the principal enactment

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

The Third Schedule to the principal enactment as amended by Act, No. 37 of 2003, is hereby further amended as follows :—

(1)

by the substitution for item 5 thereof, of the following item :—

“5 Partnerships (on any assessment made)

30 per centum”;

(2)

by the substitution in item 6 thereof, for the words and figures “Law No. 5 of 1972”, of the words and figures “Law No. 5 of 1972 or clubs or associations referred to in section 96, for any year of assessment commencing on or after April 1,

2003”; and

(3)

by the substitution for item 10 thereof, of the following item :—

“10. Business Undertakings vested in the

Government under the Business Undertaking

(Acquisition) Act, No. 35 of 1971,

(i)

on the taxable income 30 per centum

(ii)

on the balance of the profits after deduction therefrom, of the tax payable under paragraph (i)

25 per centum

Read on from s 59