8. In this Act, unless the context otherwise requires -"assessable income", " Commissioner-General", " non-resident company ", "person", "profits and income", "resident company", and "year of assessment" have the respective meanings assigned to them in the Inland Revenue Act; " employer ", " employee " and " remuneration " have the respective meanings assigned to them in Chapter XV of the Inland Revenue Act; " income tax " with reference to any person and the relevant year,
| (a) in section 2 and -
| | (i) in relation to a resident company, means the income tax payable, under the Inland Revenue Act, by that company for the relevant year, less any income tax payable by that company for that year under paragraph (b) of subsection (1) of section 33 of that Act;
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(ii) in relation to a non-resident company, means the income tax payable, under the Inland Revenue Act, by that company for the relevant year less any income tax payable by that company for that year, under sub-paragraph (i) or sub-paragraph (ii) of paragraph (b) of subsection (1) of section 34 of that Act;
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| | (iii) in relation to a resident individual whose profits and income for the relevant year include any profits from employment referred to in paragraph (c) of section 4 of the Inland Revenue Act, means such income tax as would have been payable, under the Inland Revenue Act, by such individual had such profits from employment not formed part of his profits and income for the relevant year ;
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| | (iv) in relation to an individual who is deemed-ed by subsection (7) of section 67 of the Inland Revenue Act to be a nonresident, means such income tax as would have been payable, under the Inland Revenue Act, by such individual had his profits from employment in Sri Lanka for the relevant year not formed part of his profits and income for that year ; and
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| | (v) in relation to any other person, means the income tax payable, under the Inland Revenue Act, by that person for the relevant year; and | | |
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| (b) in section 5, means the income tax payable, under the Inland Revenue Act, by that person for that year;
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"Inland Revenue Act" means the Inland Revenue Act, No. 28 of 1979. |
Sri Lanka Consolidated Acts