130.
| (1) The Income Tax Ordinance, the Personal Tax Act, No. 14 of 1959, and the Land Tax Act, No. 27 of 1961, shall not apply to any year of assessment commencing on or after April 1, 1963. |
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| (2) The Companies Tax Act, No. 35 of 1961, shall not apply to any financial year commencing on or after April 1, 1963. |
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| (3) The Double Taxation (Relief) Act is hereby repealed with effect from April 1, 1963. |
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| (4) The Income Tax Ordinance is hereby amended as follows: -
| | (a) section 2 of that Ordinance is hereby amended in the definition of " authorized representative", in paragraph (a) of that definition, in sub-paragraph (ii) of that paragraph, by the substitution, for the word " proctor,", of the words "proctor or a member of the Institute of Chartered Accountants of Ceylon,"; | | |
| | (b) section 6a of that Ordinance, inserted therein by Act No. 13 of 1959, is hereby amended, by the insertion, immediately after subsection (2) of that section, of the following new sub-section: -
| | | " (2A) Where a capital gain or a capital loss arises, in the year of assessment commencing on April 1, 1962, from the change of ownership of any property, occurring either on the death of the owner or on his ceasing to be resident in Ceylon, such capital gain or capital loss shall, notwithstanding anything to the contrary, in the preceding provisions of this section, be deemed to be his capital gain or capital loss, as the case may be, arising in (the year preceding that year of assessment. "; |
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| | (c) section 11 of that Ordinance, as amended by Act No. 13 of 1959, and therein referred to as section 9, is hereby amended as follows: -
| | | (1) in subsection (5A) of that section, by the substitution, for the words " repair of any plant,", of the words " repair or renewal of any plant, "; and |
| (2) in subsection (5H) of that section-
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| | (d) section 12 of that Ordinance, as amended by Act No. 10 of 1962, is hereby amended in sub-section (1) of that section, in paragraph (h) of that subsection, by the substitution for the words "by way of United Kingdom income tax, or super tax or surtax (other than the excess of any such United Kingdom income tax, or super tax or surtax over such maximum amount ", of the words " by way of income tax, or super tax or surtax or any other tax of a similar character in any country with which arrangements for the avoidance of double taxation have been made by the Government of Ceylon (other than the excess of any such income tax, or super tax or surtax or other tax of a similar character, over such maximum amount "; | | |
| | (e) section 15 of that Ordinance, as amended by Act No. 13 of 1959, and therein referred to as section 13, is hereby further amended as follows:-
| | | (1) in subsection (1) of that section, in paragraph (d) of that subsection: -
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| (2) in subsection (3) of that section, in the proviso to that subsection-
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| | (f) by the insertion, immediately after section 43 of that Ordinance, of the following new section which shall have effect as section 43A of that Ordinance: -
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| | (g) section 57B of that Ordinance is hereby amended by the substitution, for sub-section (2) of that section, of the following subsection: -
| | | " (2) Where a dividend is paid by any resident company to another resident company and either-
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| | (h) section 57E of that Ordinance is hereby amended as follows: -
| | | (i) in subsection (2) of that section, by the substitution, for paragraph (a) of that subsection, of the following paragraph: -
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| (ii) by the substitution, for subsection (3) of that section, of the following subsection: -
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| | (i) section 57D of that Ordinance is hereby amended as follows: -
| | | (i) in subsection (1) of that section, by the substitution, for the words "of such amount", of the following: - |
| (ii) by the substitution, for subsection (5) of that section, of the following subsection: -
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| (iii) by the insertion, immediately after sub-section (5) of that section, of the following subsection: -
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| (iv) in subsection (6) of that section, by the substitution, for the words "of a person", of the words " of a person other than a company "; |
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| | (j) section 82 of that Ordinance is hereby amended by the substitution, for the words "together with ", of the word " and "; | | |
| | (k) section 84 of that Ordinance is hereby amended, in subsection (2) of that section, by the substitution, in paragraph (b) of that subsection, for all the words from "and any property so seized", to the end of that paragraph, of the following: - | | |
| | (l) by the insertion, immediately after section 85 of that Ordinance, of the following new section which shall have effect as section 85A of that Ordinance: -
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| (5) The amendments made to the Income Tax Ordinance by paragraph (b) of subsection (4) shall be deemed to have come into operation on April 1, 1962, the amendments made to that Ordinance by paragraph (c) of subsection (4) shall be deemed to have come into operation on April 1, 1957, the amendments made to that Ordinance by sub-paragraph (1) of paragraph (e) of subsection (4) shall be deemed to have come into force on May 15, 1959, the amendments made to that Ordinance by sub-paragraph (2) of paragraph (e) of subsection (4) shall be deemed to have come into operation on April 1, 1958, the amendments made to that Ordinance by paragraph (f) of subsection (4) shall be deemed to have come into operation on April 1, 1962, the amendments made to that Ordinance by paragraphs (g) and (h) of subsection (4) shall be deemed to have come into operation on April 1, 1958, the amendment made to that Ordinance by sub-paragraph (iv) of paragraph (i) of sub-section (4) shall be deemed to have come into operation on April 1, 1959, and the amendments made to that Ordinance by paragraph (j) of subsection (4) shall be deemed to have come into operation on February 2, 1956: |
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Sri Lanka Consolidated Acts