16. Section 32 of the principal enactment is hereby amended as follows : "
| (1) in subsection (1) of that section"
| | (a) by the substitution, in sub-paragraph (vi) of paragraph (a), of that subsection for the words and figures " commencing on or after April 1, 1988 at the appropriate rates", of the words and figures "commencing on or after April 1, 1388, but prior to April 1, 1992, ' at the appropriate rates " ; | | |
| | (b) by the addition, immediately after sub graph (vi) of paragraph (a) of that subsection of the following sub-paragraph : "
| | | " (vii) in respect of any year of assessment commencing on or after April 1, 1992, at the appropriate rate specified in Part HE of the First Schedule to this Act;" ; |
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| | (c) in the proviso to that subsection"
| | | (i) by the substitution, in sub-paragraph (iii) of that proviso for the words and figures " for the year of assessment commencing on April 1, 1985; and", of the words and figures " for the year of assessment commencing on April 1, 1985;"; |
| (ii) by the substitution, in sub-paragraph (iv) of that proviso for the words and figures " for any year of assessment commencing on or after April 1, 1986 ", of the words and figures "for any year of assessment commencing on or after April 1, 1986, but prior to April 1, 1992 ; and " ; and |
| (iii) by the addition immediately after sub-paragraph (iv) of that proviso of the following sub-paragraph : "
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| (2) in subsection (2) of that section"
| | (a) by the substitution, in paragraph (d) of that subsection, for the words " at the time of his , retirement from any employment, from a provident fund ", of the words, " at the time of his retirement from any employment, or at any subsequent time, from a provident fund "; and | | |
| | (b) by the substitution, for the words "the First Schedule to this Act, if any one or more of the aforementioned sum or sums has been or have been paid to such individual", of the words "the First Schedule to this Act, if each of the aforementioned sums has been paid to such individual"; | | |
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| (3) by the repeal of subsection (3BB) of that section ; |
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| (4) by the insertion, immediately after subsection (4) of that section, of the following subsection.: "
| | " (4A) Where any charitable institution provides in any year of assessment commencing on or after April 1, 1991, institutionalized care for the sick or the needy and where the Commissioner-General is satisfied that the cost of provision of such care is borne by such charitable institution, the Commissioner-General may, subject to such conditions as he may specify, reduce or remit the tax payable by such charitable institution in respect of its profits and income for such year of assessment, if it appears to the Commissioner-General that such reduction or remission is just and equitable in all the circumstances of the case. " ; and | | |
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| (5) in subsection (6) of that section, by the substitution, for the words and figures, " every year of assessment commencing on or after April 1, 1987, on the investment income", of the words and figures " every year of assessment commencing on or after April 1, 1987, but prior to April 1, 1992, on the investment income ". |
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Sri Lanka Consolidated Acts