145.
| (1)Where any income tax for any year of assessment payable by a bank or financial institution under the provisions of this Chapter is in default, such bank or financial institution shall pay in addition to such tax -
| | (a) a penalty of a sum equivalent to ten per centum of such tax; and | | |
| | (b) where such tax is not paid before the expiry of thirty days after it has begun to be in default, a further penalty of a sum equivalent to two per centum of the tax in default in respect of each further period of thirty days or part thereof, during which it remains in default: | | |
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Sri Lanka Consolidated Acts