Section 58

The following new Schedule is hereby added immediately after the Fifth Schedule to the principal enactment and shall have effect as the Sixth Schedule to the principal enactment –

7. Rate of income tax on profits from any undertaking carried on by a company and engaged in agriculture, promotion of tourism or construction work as defined in section 186 and section 40 (section 40)

8. Rate of income tax applicable to specialized housing banks

(section 40A)

9. Rate of income tax applicable to certain companies which are exempt from income tax under section 21A or 21C for a period of two years immediately suceeding such period of exemption (section 40B)

10. Rate of income tax applicable to certain companies after the expiry of the tax exemption period where such exemption is under section 21B or 21D

(Section 40B)

11. Rate of income tax applicable to certain companies after the expiry of the tax exemption where such exemption is under section 21A, 21C or 21E and where 10 per centum or 15 per centum is not applicable (section 40B)

12. Rate of income tax applicable to dividends paid out of profits and income, taxable in accordance with section 40 and any dividend received from outside Sri Lanka and other dividends referred to in section 48A. (section 41, section 48A and section 48B).

13. Rate of income tax on qualified export profits and income of a person not being a company, who commenced to carry on any specified undertaking prior to

April 1, 2014 (section 44)

15 per centum 20 per centum 10 per centum 15 per centum 20 per centum 10 per centum for any year of assessment commencing on or after April , 2003.

As per the First Schedule but subject to a maximum of 15 per centum

14. Rate of income tax on qualified export profits and income of a company which commenced to carry on any specified undertaking prior to April 1,

2014 (section 45)

15. Rate of income tax on qualified export profits and income of a person (not being a company)

who carries on any specified undertaking prior to April 1,

2015 (section 46)

16. Rate of income tax on qualified export profits and income of a company which carries on any specified undertaking prior to

April 1, 2015. (section 47)

17. Rate of income tax on dividends out of qualified export profits and income (section 48)

18. Rate of income tax on profits and income from deemed exports of any person or partnership (section 49)

19. Rate of income tax on profits and income from services rendered outside Sri Lamka by any resident company or a partnership (section 50)

20. The rate of income tax on emoluments and fees earned in foreign currency by an individual or by a partner or a partnership, (section 51)

15 per centum as per the First Schedule but subject to a maximum of 15 per centum 15 per centum 10 per centum for any year of assessment commencing on or after April 1, 2003.

as per the First Schedule subject to a maximum of 15

per centum for an individual, and 15 per centum for a company 15 per centum in case of a partner as per the

First Schedule subject to a maximum of 15 per centum as per the First Schedule subject to a maximum of 15

per centum”.