Inland Revenue (Amendment) Act 2012 · As enacted
Section 30
Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.
Official translationFrom Department of Government Printing, unchanged
The Fifth Schedule of the principal enactment, as last amended by Act, No. 22 of 2011, is hereby further amended as follows :-
by the substitution in item 14A of that schedule, for the words “commencing prior to April 1, 2011”, of the words and figures “commencing on or after
April 1, 2011”;
30 per centum 28 per centum;
30 per centum 28 per centum ”.
Amendment of the Fifth
Schedule to the principal enactment.
25 per centum;
by the substitution for the item 33 of that Schedule of the following:-
“33.
The rate of income tax applicable to profits and income of any person from any undertaking referred to in section 59B.
by the addition, immediately after item 33 of that
Schedule of the following new items :-
“34.
The rate of income tax in respect of profits of any person from any undertaking referred to in section 48B
35. Rate of income tax applicable to profits and income of any person from any undertaking referred to in section 59C, for any year of assessment falling within the five year period referred to therein.
36. The rate of income tax applicable to profits of any branch of a commercial bank, being a branch established after November 21, 2011 and which is solely engaged in development banking.
24 per centum.
As per the First
Schedule but subject to a maximum of 10
per centum for an individual and 10 per centum for a company.
As per the First
Schedule but subject to a maximum of 12
per centum for an individual and 12 per centum for a company.
As per the First
Schedule but subject to a maximum of 12
per centum for an individual and 12 per centum for a company.”.
37. The rate of income tax applicable to profits and income of any person from research activities defined in paragraph (i) of subsection (1) of section 25.
38. The rate of income tax applicable to profits and income of any person from the provision of health care services.
39. The rate of income tax applicable to any grower or manufacturer of tea who has established a joint venture with a tea exporter for exporting pure Sri Lankan tea, in value added form with a Sri Lankan brand name, on the manufacturing income attributable to the tea purchased from a tea auction in Sri Lanka for that purpose by the joint venture.
40. The rate of income tax applicable to profits and income of any person engaged in the manufacture (locally) of handloom products.