15. Section 32 of the principal enactment is hereby amended as follows:
| (1) in paragraph (a) of subsection (1) of that section
| | (a) by the substitution in sub-paragraph (v), of that paragraph, for the words and figures " in respect of any year of assessment commencing on or after April 1,1986,", of the words and figures, " in respect of the year of assessment commencing on April 1, 1986, and in respect of the year of assessment immediately succeeding that year of assessment," ; | | |
| | (b) by the insertion immediately after sub-para- graph (v) of that paragraph of the following sub-paragraph.
| | | " (vi) in respect of any year of assessment commencing on or after April 1, 1988, at the appropriate rates specified in Part IID of the First Schedule to this Act;"; |
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| (2) in subsection (2) of that section
| | (a) by the substitution in paragraph (e) of that subsection, for the words " has been paid by the employer ", of the words " has been paid by the employer, or '' ; | | |
| | (b) by the insertion, immediately after paragraph. (e) of that subsection of the following paragraph :
| | | " (f) any sum paid to him at the time of his retirement from any employment, from the Employees' Trust Fund, established by the Employees' Trust Fund Act, No. 46 of 1880, " ; and |
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| | (c) by the substitution, for the words "if such aforementioned sum has been paid by the employer of such individual," of the words "if any one or more of the aforementioned sum or sums has been or have been paid to such individual by his employer, or if such employer has contributed to such fund or funds, " ; | | |
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| (3) in subsection (3A ) of that section, by the substitution for the words " more than two years but less than five years after the acquisition of such property by such person, and the rate of income tax payable on such part of such income", of the words " more than two years but not more than five years after the date of acquisition of such property by such person, and the rate of income tax payable on a part of such income " ; |
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| (4) in subsection (3B) of that section-
| | (a) by the substitution, for the words "within such period after the acquisition of that property ", of the words " within such period after the date of acquisition of that property "; | | |
| | (b) by the substitution in Column I of that subsection
| | | (i) for the words " more than five years but less than fifteen years ", of the words " more than five years but not more than fifteen years " ; and |
| (ii) for the words "more than fifteen years but less than twenty years", of the words '' more than fifteen years but not more than twenty years " ; and |
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| (5) by the insertion immediately after subsection (3B) of that section, of the following subsection :
| | " (3c) Where for the purposes of paragraph (l) or (m) of subsection (3) of section 7, the value of any property is determined by reference to a date earlier than the actual date of acquisition of such property by any person, the date of acquisition of such property by such person, shall for the purposes of this section, be deemed to be the date on which the person second-mentioned to such paragraph acquired such property.". | | |
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Sri Lanka Consolidated Acts