105.
| (1) Any income tax, which any person is liable to pay under this act for any year of assessment shall be paid by such person to the Commissioner-General in four instalments on or before the fifteenth day respectively of August. November and February in that year of assessment and the fifteenth day of May of the next succeeding year of assessment, notwithstanding that the assessment has been made on him by an Assessor. Each such instalment is hereinafter referred to as a "quarterly instalment". |
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| (2) The quarterly instalment of a tax payable by any person for any year of assessment shall be one-quarter of the tax payable by him for that year of assessment. |
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| (3) Notwithstanding anything contained in sub-section (1) and subsection (2) of this section, the entirety of the tax payable by any company resident in Sri Lanka under paragraph (b) of subsection (1) of section 53 or under section 60 in respect of dividends distributed by such company, shall be paid on or before the thirtieth day succeeding the date of distribution of such dividends. |
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| (4) Notwithstanding the provisions of any of the foregoing subsections, the entirety of the advance company tax payable by any company resident in Sri Lanka, under section 54(1) on an amount equal to the amount of every qualifying distribution made by such company in any year of assessment. shall be remitted to the Commissioner-General at the time at which the dividend consisting of each such qualifying distribution is distributed. The remittance shall be accompanied by a declaration in such form and containing such particulars as may be specified by the Commissioner- General to ensure the orderly collection of such tax. |
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Sri Lanka Consolidated Acts