Inland Revenue (Amendment) Act 2015 · As enacted
25. Amendment of section 95 of the principal enactment
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
Section 95 of the principal enactment as last amended by the Act, No. 22 of 2011 is hereby further amended in subsection (1) of that section as follows:-
in paragraph (b) of that subsection by the substitution for the words “out of income arising in
Sri Lanka”, of the following:—
“out of income arising in Sri Lanka; or
fees for technical services referred to in section 94,”;
in paragraph (aaa) of the proviso to that subsection, by the substitution for the words “ provision of this
Act; and”, of the words “ provision of this Act;”;
in paragraph (b) of the proviso to that subsection, by the substitution for the words “ banking unit.”, of the words “ banking unit ; and”; and
by the addition immediately after paragraph (b) of the proviso to that subsection, of the following new paragraph:-
“(c)
for any year of assessment commencing on or after April 1, 2015, no deduction shall be made under this section from any interest paid to any individual on money deposited in any bank or financial institution and tax is deductible on such interest at the rate of two and a half per centum as referred to in section 133 of this Act.”.