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38. Amendment of the First 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 First Schedule to the principal enactment, as last amended by Act, No. 8 of 2012, is hereby further amended by the substitution for PART V of that Schedule, of the following Part:-

“PART V

The rate of income tax applicable to any sum referred to in the proviso to subsection (2) of section 35-

(a)

for any year of assessment commencing prior to April 1, 2013

(b)

for any year of assessment commencing on or after April 1,

2013

as per PART I,

PART 1A or PART

IB, but subject to a maximum of 20 per centum as per PART IB, but subject to a maximum of 16 per centum.”.

Read on from s 39