24. Amendment of section 41 of the principal enactment

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

Section 41 of the principal enactments is hereby amended as follows :–

(1)

in subsection (1) of that section —

(a)

in item (ii) of that subsection by the substitution for the words and figures “or of

Chapter VIII.”, of the words and figures “or of Chapter VIII; ”;

(b)

by the insertion at the end of that subsection of the following proviso :–

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

2003, any dividend referred to in sub-paragraphs (a) and (b), shall be chargeable with income tax at the appropriate rate as specified in the Sixth Schedule to this Act.” ;

and

(2)

in subsection (2) of that section by the substitution for the words “fifteen percentum”, of the words

“fifteen percentum for any year of assessment commencing prior to April 1, 2003 and at the appropriate rate as specified in the Sixth Schedule to this Act, for any year of assessment commencing on or after April 1, 2003.”.

Read on from s 25