26. Section 110 of the principal enactment is hereby repealed and the following section substituted therefor: "
| 110. Where any income tax for any pay period payable by any employer under the provisions of this Chapter is in default, such employer shall"
| | (a) where such pay period is any pay period ending on or before March 31, 1992, pay in addition to such tax"
| | | (i) a penalty of a sum equivalent to ten per centum of such tax ; and |
| (ii) where such tax is not paid before the expiry of six months after such tax has begun to be in default, a further penalty of a sum equivalent to fifteen per centum of such tax, and |
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| | (b) where such pay period is any pay period commencing on or after April 1, 1992, pay in addition to such tax"
| | | (i) a penalty of a sum equivalent to ten per centum of such tax ; |
| (ii) where such tax is not paid before the expiry of thirty days after it has begun to be in default, a (further penalty of a sum equivalent to two per centum of the tax in default in respect of each further period of thirty days or part thereof during which it remains in default: |
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Sri Lanka Consolidated Acts