Sri Lanka Consolidated Acts Sri Lanka Consolidated ActsWealth tax payable not to exceed a certain amount
| 50. The wealth tax payable by any person for any year of assessment shall not exceed eighty per centum of the aggregate of the assessable income of that person for that year of assessment and of any profits and income (other than the net annual value of a residence and any subsidy exempt from income tax under this Act), being profits and income exempt from income tax under this Act or under any other enactment, and which, but for that exemption, would have been taken into account in computing the assessable income of that person for that year of assessment. |