Inland Revenue (Amendment) Act (No. 14 of 1984)

Sri Lanka Consolidated Acts

Replacement of section 41 of the principal enactment

19. Section 41 of the principal enactment is hereby repealed and the following section substituted therefor :-

41. Subject to the other provisions of this Chapter there shall be charged

	(a) for the year of assessment commencing on April 1, 1979 , and for each of the four years of assessment immediately succeeding that year of assessment, in respect of the taxable wealth of every person on the first day of that year of assessment; and

	(b) for every year of assessment commencing on or after April 1, 1984, in respect of the taxable wealth of every person on the last day of that year of assessment, a tax (hereinafter referred to as the " wealth tax") at the appropriate rates specified in. the Fourth Schedule to this Act.'.