16. Amendment of section 84A of the principal enactment

Official English translation. The Sinhala text prevails.

Section 84A of the principal enactment is hereby amended as follows: -

(1)

in subsection (1) of that section, by the substitution for the words and figures “with effect from April 1,

2020, the taxpayer”, of the words and figures “with effect from April 1, 2020 but prior to January 1,

2023, the taxpayer”; and

(2)

by the insertion immediately after subsection (1) of that section, of the following new subsection: -

“(1A) Subject to section 83A and subsection (3) of section 84, with effect from January 1,

2023, a person shall deduct Advance Income

Tax from the payment of dividend, interest, discount, charge, natural resource payment, rent, royalty or premium which has a source in Sri

Lanka, at the rate provided in paragraph 10 of the First Schedule to this Act.”.