8. Amendment of section 25H of the principal enactment

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

Section 25H of the principal enactment is hereby amended in subsection (1) of that section, by the substitution for the words and figures "of this Chapter for every quarter commencing on or after January 1, 2007, at the rate of five per centum" of the following :-

"of this Chapter :-

(a)

for every quarter commencing on January 1, 2007

and ending on December 31, 2010, and for every quarter commencing from the quarter in which the registration falls due, at the rate of five percentum; and

(b)

every quarter commencing on January 1, 2011, in the following manner :-

(i)

at the rate of two percentum, for every quarter falling within the three years commencing from the beginning of the quarter in which registration falls due, but after the December 31, 2010;

(ii)

at the rate of four percentum, for every quarter falling within the three years commencing immediately after the end of the three years referred to in item (i);

(iii)

at the rate of eight percentum, for every quarter falling within the three years commencing immediately after the end of three years referred to in item (ii); and

(iv)

at the rate of twelve per centum, for every quarter falling within the three years commencing immediately after the end of three years referred to in item (iii);".

Act, No. 9 of 2011

Read on from s 9