Inland Revenue (Amendment) Act 2004 · As enacted
59. Amendment of the Sixth 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 Sixth Schedule to the principal enactment is hereby amended as follows :—
by the substitution in item 5 of that Schedule, for the words and figures “arising from any on-shore foreign currency banking transactions (section 38)”, of the words and figures “arising from any on-shore foreign currency banking transactions for any year of assessment commencing on or before April 1,
2002 and on profit and income for the period up to and including June 30, 2003 (section 38)”;
Inland Revenue (Amendment)
by the insertion immediately after item 5 of that
Schedule, the following new items :—
(5a)
The rate of income tax on profits and income from off-shore foreign currency transactions of any foreign currency baking unit
(section 38A)
(5b)
The rate of income tax on profits and income arising to any consignor or consignee from entrepot trade involving precious stones, metals not mined in Sri
Lanka or any petroleum, gas or petroleum products or such other approved products (Section 38B)
(5c)
The rate of income tax on profits and income arising to any person from any approved undertaking for the operation and maintenance of facilities for the storage of goods or commodities involving entrepot trade-(section 38C)
(5d)
The rate of income tax applicable to any profits or gains on the disposal of company shares, rights or warrants (section 38D)
15 per centum unless such person is liable at 10
per centum only.
10 per centum 10 per centum 20 per centum
Inland Revenue (Amendment)
by the addition immediately after item 20 of that
Schedule, the following new items :—
“21.
The rate of income tax applicable to any partnership on the divisible profits and other income, other than on any assessment made
(section 72A)
22. The rate of income tax applicable to any person who is not a citizen of Sri Lanka carrying on the profession or vocation of entertainer or artist (section 91)
23. The rate of income tax applicable to any profits and income from petroleum exploration of any person or in the case of a partner of a partnership, as referred to in section 97B (section 97B)”.