22. Section 38 of the principal enactment is hereby amended as follows : -
| (1) by the substitution in subsection (1) of that section-
| | (a) for the words " Every resident company shall of the "words "Every resident company' other than quated public company shall", | | |
| | (b) for the words "income tax equal to thirty- three and one-third per centum of such sib amount.", of the words " income tax equal to thirty-three' and one-third per centum where the dividend is payable on or before March 31, 1980, and income tax' equal to -. twenty per centum where the dividend is payable on or after April 1, 1980." ; | | |
|
|
| (2) by "the substitution in paragraph (d) of subsection (2) of that section for the words, " is exempt from income tax under this Act," of the words," is exempt from income tax under this Act 'or is received from a quoted public company.": |
|
| (3) in subsection (8) of that section-
| | (a) by the substitution for all the words from | | |
| | (b) in paragraph (b) of the proviso to that sub- section, by the substitution, for the words u under this Act. ", of the words " under this Act; or "; | | |
| | (c) by the insertion immediately after paragraph (b) of the proviso to that subsection, of the following paragraph : "
| | | "(c) the amount of any dividend received from a quoted public company."; and
|
|
|
|
| (4) in the marginal note to that section, by the omission of the words and figures " of 33 1/3 per centum ". |
|
|
Sri Lanka Consolidated Acts