22. Section 23 of the principal enactment is hereby amended in subsection (1) of that section as follows,:
| (a) by the insertion, immediately after paragraph (e) of that subsection, of the following paragraph:
| | " (ee) such allowance (calculated at a fixed rate per centum per annum on the cost of acquisition) as the Commissioner-General considers reasonable for depreciation by wear and tear of any unit of non-residential accommodation comprised in a registered Condominium Property, within the meaning of the Apartment Ownership Law, No. 11 of 1973, acquired by such person on or after April 1, 1981, and used by him in any trade, business, profession or vocation carried on or exercised by him: | | |
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| (b) by the repeal of paragraph (k) of that subsection and the substitution of the following paragraph therefor:
| | " (k) any
| | | (i) business turnover tax payable under the Finance Act, No. 11 of 1963, or |
| (ii) turnover tax payable under the Turnover Tax Act, No. 69 of 1981, less any deductions allowable under section 47 of that Act, |
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| (c) by the substitution, in subsection (5) of that section, for the words and figures "under subsection (1) (a), (1) (b), (1) (c), (1) (d), (1) (e),or (1) (f) of the words and figures " under subsection (1) (a), (1) (b), (1) (c), (1) (d), (1) (e), (1) (ee) or (1) (f)";and |
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| (d) by the substitution for sub-paragraph (i) of paragraph (a) of subsection (7) of that section of the following sub-paragraph:
| | " (i) paragraph (a), or paragraph (b), or paragraph (c), or paragraph (d), or paragraph (e), or paragraph (ee) of subsection (1) of this section or under subsection (1) of section 162;". | | |
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Sri Lanka Consolidated Acts