2.
| (1) Income tax shall, subject to the provisions of this Act, be charged at the appropriate rates specified in the First and Second Schedules to this Act for every year of assessment commencing on or after April 1, 1963, in respect of the profits and income of every person for the year preceding the year of assessment-
| | (a) wherever arising, in the case of a person who was resident in Ceylon in the year preceding the year of assessment, and | | |
| | (b) arising in or derived from Ceylon, in the case of every other person, | | |
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| (2) For the purposes of this Act, without in any way limiting the meaning of the expression, " profits and income arising in or derived from Ceylon" includes all profits and income derived from services rendered in Ceylon, or from property in Ceylon, or from business transacted in Ceylon, whether directly or through an agent. |
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* Vide Section 55 of the Finance Act, No. 11 of 1963. |
Sri Lanka Consolidated Acts