5. Section 38 of the principal enactment is hereby amended as follows:
| (1) in subsection (2) of that section
| | (i) by the substitution for paragraph (d) of that subsection of the following paragraph:
| | | " (d) the composition Of the gross dividend indicating separately the amount paid out of
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| | (ii) by the addition, immediately after paragraph (d) of that subsection of the following new paragraphs:
| | | " (e) the advance company tax paid in relation to such part of the dividend paid out of the other profits and income referred to in sub-paragraph (viii) of the foregoing paragraph as consists of a qualifying distribution; |
| (f) advance company tax paid to relation to such part of the dividend paid out of a dividend referred to in sub-paragraph (ii) or (iii) or (iv) of paragraph (d) as consists of a qualifying distribution. " ; and |
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| (2) by the insertion, immediately after subsection (2) of that section of the following new subsection :
| | " (2A) Every company resident in Sri Lanka shall, for every year of assessment commencing on or after April 1, 1988, furnish to the Commissioner-General on or before the thirtieth day of November immediately succeeding the end of that year of assessment, a statement in such form as may be specified by the Commissioner-General setting out the particulars of
| | | (i) advance company tax paid in that year of assessment; |
| (ii) any payments made in that year of assessment in respect of tax under section 33 (1) (a) for any year of assessment commencing on or after April 1, 1988. "; and |
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| (3) in subsection (4) of that section by the substitution for the words " the amount of tax shown on such statement.", of the words " the amount of tax including the advance company tax, shown on such statement.". |
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Sri Lanka Consolidated Acts