Inland Revenue Act (No. 38 of 2000)

Sri Lanka Consolidated Acts

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Inland Revenue Act (No. 38 of 2000) - Sect 56

Resident company to maintain a record of dividends received

56. Every resident company shall maintain for every year of assessment a record indicating"

(a) dividends received in the form of money or of an order to pay money from other resident companies received on or after April 1. 1988. classified under the following categories and sub-categories :"

	(i) exempt dividends ;

	(ii) dividends in relation to which advance company tax has not been paid :

(iii) other dividends"

(A) dividends paid out of profits for any period prior to April 1, 1988 ;

(B) dividends in relation to which advance company tax has been paid at fifty per centum.

(D) dividends in relation to which advance company tax has been paid at twenty-seven per centum ;

(E) dividends in relation to which advance company tax has been paid at twenty five per centum ;

(F) dividends in relation to which advance company tax has been paid at eight per centum :

(G) dividends in relation to which advance company tax has been paid at five per centum ; and

(b) profits and income, other than dividend income. arising or accruing on or after April 1, 1988, classified under the following categories :"

	(i) exempt profits and income ;

(ii) profits and income taxable"

(A) under section 32F, section 32H, section 32K, section 32M, section 32 and section 32DDDD of the Inland Revenue Act, No. 28 of 1979 ;

(B) under section 45, section 47, section 49, section 50 and section 54 ;

	(iii) other profits and income :

(c) details of dividends paid out during that year of assessment, out of each of the categories and sub-categories of income set out in the foregoing paragraphs ;

(d) appropriations made during that year of assessment out of each of the categories and sub-categories of income set out in the foregoing paragraphs, tore payment of taxes and reserves.

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