| 1.
| | This Act may be cited as the Inland Revenue Act, No. 38 of 2000. |
| 2.
| | Imposition of Income Tax. [2, 37 of 2003] |
| 3.
| | Income chargeable with tax. [2, 10 of 2002][2, 12 of 2004] |
| 4.
| | Profits from employment. [3, 37 of 2003] |
| 5.
| | Net annual value of land and improvements thereon or of any place of residence. |
| 6.
| | Profits or income arising from rents of land and improvement thereon. |
| 7.
| | Capital gain. [3, 10 of 2002] |
| 8.
| | Exemption from income tax of certain persons (other than individuals) on the whole or any part of their profits and income. [2, 8 of 2001][4, 10 of 2002][4, 37 of 2003][3, 12 of 2004] |
| 9.
| | Exemption from Income Tax of certain profits and income of certain officers and employees.[3, 8 of 2001] [5, 37 of 2003] |
| 10.
| | Exemption from Income tax of certain interest received. [5, 10 of 2002][2, 19 of 2003][4, 12 of 2004] |
| 11.
| | Exemption from income tax of certain interest.[6, 10 of 2002][6, 37 of 2003][5, 12 of 2004] |
| 12.
| | Exemption from income tax of certain profit and income from lands and improvements thereon. [7, 37 of 2003] |
| 13.
| | Exemption from income tax of certain subsidies. |
| 14.
| | Exemption from income tax of certain capital gains. [7, 10 of 2002] |
| 15.
| | Miscellaneous exemptions from income tax. [4, 8 of 2001] [3, 19 of 2003][8, 37 of 2003][6, 12 of 2004] |
| 16.
| | Exemption of certain profits and income of any resident guest. |
| 16A.
| | Exemption of profits and income derived from outside Sri Lanka. [10, 8 of 2005] |
| 17.
| | Exemption from income tax for five years of the profits and income of certain companies. [8, 10 of 2002] |
| 17A.
| | "Exemption from income tax of profits and income from agricultural undertakings. [11, 8 of 2005] |
| 18.
| | Exemption from income tax of the profits and income of any undertaking which provides certain services. [9, 10 of 2002] |
| 18A.
| | Exemption from income tax of the profits and income of certain companies providing infrastructure facilities.[5, 8 of 2001] [10, 10 of 2002][7, 12 of 2004] |
| 19.
| | Exemption from income tax of the profits and income of any company engaged in non plantation agricultural activities. [11, 10 of 2002] |
| 20.
| | Exemption from income tax of profits and income of a company which exports fresh or processed vegetables or fruits and cultivates vegetables or fruits. [12, 10 of 2002] |
| 20A.
| | Exemption from income tax of profits and income of an undertaking for export of handicrafts.[6, 8 of 2001] |
| 21.
| | Exemption from income tax of profits from the construction and first sale of certain houses. [8, 12 of 2004] [12, 8 of 2005] |
| 21A.
| | Exemption from income tax of the profits and income of any company from any specified undertaking.[13, 10 of 2002][4, 19 of 2003][9, 37 of 2003][9, 12 of 2004] |
| 21B.
| | Exemption from income lax of certain undertakings for infrastructure development.[13, 10 of 2002][5, 19 of 2003] |
| 21C.
| | Exemption from income tax of small scale infrastructure industries.[6, 19 of 2003] |
| 21D.
| | Exemption from income tax of any company engaged in research and development.[6, 19 of 2003] [10, 12 of 2004] |
| 21E.
| | Exception from income tax of any company acquiring non- performing business enterprise.[6, 19 of 2003][11, 12 of 2004] |
| 21F.
| | Exemption from income tax of any company engaged in non- traditional products for exports which undertakes expansion.[6, 19 of 2003][12, 12 of 2004] |
| 21G.
| | Exemption from income tax of profits and income from expansion of undertakings engaged in the manufacture or production of traditional exports or non-exportable goods.[6, 19 of 2003] |
| 21H.
| | Exemption from income tax of any venture capital company.[10, 37 of 2003][13, 12 of 2004] |
| 21I.
| | Exemption from income tax of any person engaged in the business of providing Manor Houses or Thematic Bungalows to tourists |
| 22.
| | Power of Commissioner-General to recommend cancellation of approval granted under section 17. |
| 22A.
| | The profits and income of a person making a declaration under section 2 of the Inland Revenue (Special Provisions) Act, No. 7 of 2002 shall not be exempted from income tax.[14, 10 of 2002] |
| 23.
| | Ascertainment of profits or income. [15, 10 of 2002][7, 19 of 2003][14, 12 of 2004] |
| 24.
| | Deductions not allowed in ascertaining profits and income. [16, 10 of 2002][8, 19 of 2003][15, 12 of 2004] |
| 24A.
| | Deduction of head office expenses incurred by any nonresident company. [16, 8 of 2005] |
| 25.
| | Basis for computing statutory income. |
| 26.
| | Appointment of profits. |
| 27.
| | Total statutory income. |
| 28.
| | Aggregation of the total statutory income of a child with that of his parent. |
| 29.
| | Deductions from total statutory income in arriving at assessable income. [17, 10 of 2002][9, 19 of 2003][11, 37 of 2003][16, 12 of 2004] |
| 30.
| | Taxable income. [18, 10 of 2002][17, 12 of 2004] |
| 31.
| | An allowance in respect of qualifying payments. [19, 10 of 2002][12, 37 of 2003][18, 12 of 2004] |
| 32.
| | Rates of income tax on persons other than companies. [7, 8 of 2001] [20, 10 of 2002][13, 37 of 2003] |
| 33.
| | Special provision relating to taxation of interest on compensation payable in respect of property vested in the Government the Land Reform commission or a public corporation or a local authority. [14, 37 of 2003] |
| 34.
| | Deductions of income tax from interest payable on certain deposit accounts. [15, 37 of 2003] |
| 35.
| | Rate of income tax on gross interest on loans granted by a company, partnership or other body of Sri Lanka. [16, 37 of 2003] |
| 36.
| | The rate of income tax on royalty payable to any company partnership or other body of persons outside Sri Lanka. [17, 37 of 2003] |
| 37.
| | The rate of income tax on profits from employment for a specified period of a non citizen employed in Sri Lanka. [18, 37 of 2003] |
| 38.
| | Rate of income tax on the profits and income of any foreign currency banking unit.[19, 37 of 2003] [19, 12 of 2004] |
| 38A.
| | Rate of income tax on profits and income of any foreign currency banking unit arising from any off-shore foreign transaction.[20, 12 of 2004] |
| 38B.
| | Rate of income tax on profits and income arising in Sri Lanka to the consignor or consignee from certain exports.[20, 12 of 2004] |
| 38C.
| | Rate of income on profits and income arising from certain undertakings approved by Minister.[20, 12 of 2004] |
| 38D.
| | Rate of income tax on sale of any share or a warrant.[20, 12 of 2004] [19, 8 of 2005] |
| 39.
| | Rate of income tax on profit from certain undertakings earned on by a person other than a company. [20, 37 of 2003] |
| 40.
| | Rate of income tax on profits from certain undertakings carried on by a company. [21, 37 of 2003] |
| 40A.
| | Rate of income tax applicable to specialized housing banks.[21, 10 of 2002][22, 37 of 2003] |
| 40B.
| | Rate of income tax applicable to certain companies after the expiry of tax exemption.[21, 10 of 2002][10, 19 of 2003][23, 37 of 2003] |
| 41.
| | Rate of income tax on dividends paid out of profits taxed in accordance with section 40. [24, 37 of 2003] |
| 42.
| | Deduction from tax payable by any quoted public company under certain conditions. [25, 37 of 2003] |
| 43.
| | Deduction from tax payable by any company which obtain a quotation of its shares and satisfies certain further conditions. [26, 37 of 2003] |
| 44.
| | Rate of income tax on qualified export profits and income of person not being a company, who commenced to carry on any specified undertaking. [27, 37 of 2003] |
| 45.
| | Rate of income tax an qualified export profits and income of a company which commences to carry on any specified undertaking. [28, 37 of 2003] |
| 46.
| | Rate of income lx on qualified export profits and income of a person not being a company who specified undertaking. [29, 37 of 2003] |
| 47.
| | Rate of income tax on qualified export profits and income of a company which carries on any specified undertaking. [30, 37 of 2003] |
| 48.
| | Rate of income tax on dividends out of exports profits and income. [31, 37 of 2003] |
| 48A.
| | Rate of income tax on certain dividends.[22, 10 of 2002][32, 37 of 2003][21, 12 of 2004] [21, 8 of 2005] |
| 48B.
| | Rate of income tax on dividend from outside Sri Lanka.[33, 37 of 2003] |
| 49.
| | Rate of income tax on deemed exports of any person or partnership. [11, 19 of 2003][34, 37 of 2003] |
| 50.
| | Rate of income tax on profits and income from service rendered out side Sri Lanka by any resident company or partnership. [8, 8 of 2001] [35, 37 of 2003] |
| 51.
| | Rate of income tax on employment and fees earned in foreign currency by an individual or by partnership. [9, 8 of 2001] [36, 37 of 2003] |
| 52.
| | Interpretation. [12, 19 of 2003][37, 37 of 2003] |
| 52A.
| | Payment of income tax on taxable income by an individual whose employment income is exempt under paragraph(a) or (b) of subsection(1) of section 9.[38, 37 of 2003][22, 12 of 2004] |
| 53.
| | Income tax to which any resident company is liable. [10, 8 of 2001] [23, 10 of 2002][39, 37 of 2003][23, 12 of 2004] |
| 54.
| | Advance company tax on qualifying distribution to which resident companies are liable. [24, 10 of 2002] |
| 55.
| | Dividend consisting of any qualifying distribution when received by a resident person other than a company. |
| 56.
| | Resident company to maintain a record of dividends received. |
| 57.
| | Income tax to which any non resident company is liable. [25, 10 of 2002][40, 37 of 2003] |
| 58.
| | Certain dividends not to form part of the assessable income of the receiving company. company. |
| 59.
| | Profits of a company from transactions with its shareholders. |
| 60.
| | Every resident company to deduct income tax from any dividend received from any quoted public company and payable to any non-resident person. [26, 10 of 2002][24, 12 of 2004] [24, 8 of 2005] |
| 61.
| | Resident company entitled to deduct tax from any dividend. [11, 8 of 2001] [27, 10 of 2002][41, 37 of 2003][25, 12 of 2004] |
| 62.
| | Certain undistributed profits to be treated as distributed. [25, 8 of 2005] |
| 63.
| | Provisions applicable where the profits and income of a company are appropriated by the director. & c. of that company. |
| 63A.
| | Provisions of this Chapter not apply to charitable institutions etc.[42, 37 of 2003] |
| 64.
| | Assessment of child's income. |
| 65.
| | Returns to be furnished by receiver and trustee and their liability to tax. |
| 66.
| | Chargeability to tax of trustee of an incapacited person. |
| 67.
| | Liability of executor to tax payable by deceased person. |
| 68.
| | Return to be furnished by executor and changeability of an executor and beneficiary. |
| 69.
| | Joint trustees and executors. |
| 70.
| | Every unit trust deemed to be a company. [43, 37 of 2003] |
| 71.
| | Assessment of partnership income. |
| 72.
| | Assessment to be made in the name of the partnership in certain circumstances. |
| 72A.
| | Tax chargeable on partnerships.[26, 12 of 2004] |
| 73.
| | What constitutes residence. |
| 74.
| | Chargeability of certain profits of non resident persons. |
| 75.
| | Persons assessable on behalf of a non-resident person. |
| 76.
| | Liability of certain non-resident persons. |
| 77.
| | Profits of certain business to be computed by a percentage of the turnover. |
| 78.
| | Profits of non resident person from sale of exported produce. |
| 79.
| | Liability to income tax of certain profits on non-resident person. |
| 80.
| | Exemption from income tax of non-resident persons in certain cases and liability of certain non-resident persons to income tax at reduced rates.[27, 12 of 2004] |
| 81.
| | Profits of non-resident ship owners or charterers. |
| 82.
| | Master of ship to be an agent. |
| 83.
| | Refusal for clearance for ship where income tax is in arrears. |
| 84.
| | Profit of non-resident owners or characters of aircraft. |
| 85.
| | Application of subsection (2) of section 81,section 82, and section 83 to profits of non-resident owners or charterers of any aircraft. |
| 86.
| | Ascertainment of profits of insurance companies. |
| 87.
| | Ascertainment or profits of the Insurance Corporation of Sri Lanka from the business of life insurance. |
| 88.
| | Interest on certain loans deemed to be profits and income. |
| 89.
| | Certain royalties deemed to be profits and income. |
| 90.
| | Deduction of income tax from interest &c. payable to persons outside Sri Lanka. |
| 91.
| | Deduction of income tax from payment made to any foreign entertainer or artist. [28, 12 of 2004] |
| 92.
| | Effect of agreements for double taxation relief. |
| 93.
| | Relief in respect of Sri Lanka income tax. |
| 94.
| | Applicability of provisions relating to particular sources of profits or income. |
| 95.
| | How certain receipts of insurance are to be treated. |
| 96.
| | Ascertainment of income of clubs, trade, associations &c. [44, 37 of 2003] |
| 96A.
| | Profits and income of Non-Organization to be chargeable with income tax. [27, 8 of 2005] |
| 97.
| | Certain transactions and dispositions to be disregarded. |
| 97A.
| | Assessors power to disregard certain transactions between the member of a group of companies.[29, 12 of 2004] |
| 97B.
| | Ascertainment of profits and income from business of petroleum exploitation under a Petroleum Resources agreement.[30, 12 of 2004] |
| 98.
| | Returns and information to be furnished. [45, 37 of 2003][31, 12 of 2004] |
| 99.
| | Audit reports to be furnished by partners & c. [46, 37 of 2003] |
| 100.
| | Returns and other documents to contain the national identity card number or passport number. |
| 101.
| | Returns to be furnished of income received on account of or paid to other persons. |
| 102.
| | Occupiers to furnish returns of rent payable. |
| 103.
| | Return of lodgers and inmates. |
| 104.
| | Power of Commissioner-General to impose penalty for furnish return. [29, 8 of 2005] |
| 105.
| | Payment of tax by self-assessment.[32, 12 of 2004] |
| 106.
| | Employees to deduct income tax. [47, 37 of 2003][33, 12 of 2004] |
| 107.
| | Employers to give notice to Commissioner-General. [34, 12 of 2004] |
| 108.
| | Application of income tax tables. |
| 108A.
| | Deduction of tax at special rates.[35, 12 of 2004] |
| 109.
| | Directions to employers. |
| 110.
| | Employers to maintain proper records. |
| 111.
| | Duties of employee following deductions from Income Tax. |
| 112.
| | Adjustments of amount of income tax not paid or paid in excess. |
| 113.
| | Employee to give notice when necessary deductions are not made. |
| 114.
| | income tax deducted not to form part of assets of employers. |
| 115.
| | Defaults in the deduction or payments of income tax. |
| 116.
| | Issue of Assessments on employers. |
| 117.
| | Appeals. |
| 118.
| | Penalty for default.[48, 37 of 2003] |
| 118.
| | Penalty for default. [36, 12 of 2004] |
| 119.
| | Credit for tax paid. [37, 12 of 2004] |
| 120.
| | Compliance with the provisions of this Chapter relating to forms. |
| 121.
| | Interpretation. |
| 121A.
| | Payment of income tax by a Government institution for its employees. [30, 8 of 2005] |
| 122.
| | Bank and financial institution to deduct income tax. [28, 10 of 2002][13, 19 of 2003] |
| 122A.
| | Bank or financial institution to deduct income tax on interest paid.[29, 10 of 2002][14, 19 of 2003][38, 12 of 2004] |
| 122B.
| | A company which issues corporate debt security to deduct income tax on interest.[15, 19 of 2003][39, 12 of 2004] [31, 8 of 2005] |
| 123.
| | Credit for tax deduction. [16, 19 of 2003][40, 12 of 2004] |
| 123A.
| | A notional tax credit on secondary market transaction.[17, 19 of 2003][41, 12 of 2004] [32, 8 of 2005] |
| 123B.
| | Refund of income lax paid on interest liable to withholding tax.[17, 19 of 2003][42, 12 of 2004] |
| 124.
| | Issue of direction. [30, 10 of 2002] |
| 124A.
| | Issue of directions where deductions are made under section 122A or 122B.[18, 19 of 2003] |
| 124B.
| | Issue of direction where deduction are made from interest income under section 122A or 122B.[43, 12 of 2004] [34, 8 of 2005] |
| 125.
| | Duties of bank and financial institution following deductions of income tax. |
| 125A.
| | Penalty for tax avoidance.[19, 19 of 2003] |
| 126.
| | Default in the deduction of income tax. |
| 127.
| | Issue of assessment on bank and financial institution. |
| 128.
| | Appeals. |
| 129.
| | Penalty for default. [20, 19 of 2003] |
| 129A.
| | Penalty and interest on default.[44, 12 of 2004] [35, 8 of 2005] |
| 130.
| | Interpretation. |
| 130A.
| | Person or Partnership chargeable with income tax. [21, 19 of 2003] |
| 130B.
| | Registered co-operative societies deemed to be companies.[21, 19 of 2003] |
| 130C.
| | Registration of banks and financial institutions.[45, 12 of 2004] |
| 130D.
| | Registration of specified persons.[46, 12 of 2004] |
| 130E.
| | Registration of persons liable to deduct tax from rent, lease rent or other similar payments.[46, 12 of 2004] |
| 131.
| | Specified persons to deduct income from specified fees.[12, 8 of 2001] [31, 10 of 2002] |
| 131A.
| | Persons paying rent lease rent etc. to deduct income tax.[32, 10 of 2002] |
| 131B.
| | Application of the provisions of Chapter XV to this Chapter.[32, 10 of 2002] |
| 132.
| | Provisions of Chapter XV to apply in relation to the deduction under this Chapter of income tax from specified fees. |
| 132A.
| | Government institutions paying rewards or fines or other person or partnership paying lottery prizes act to deduct income tax.[49, 37 of 2003][47, 12 of 2004] [36, 8 of 2005] |
| 132B.
| | Provisions of chapter XV to apply in relation to the deduction under this Chapter.[49, 37 of 2003] [36, 8 of 2005] |
| 132C.
| | Registration of person conducting lotteries or betting or gambling activities.[48, 12 of 2004] |
| 132D.
| | Persons paying royalty, management fee or similar payment to deduct income tax.[49, 12 of 2004] |
| 132E.
| | Application of the provisions of chapter XV to this Chapter.[49, 12 of 2004] |
| 133.
| | Retention of fifteen per centum of moneys lying to the credit of a contributor to a specified provident fund to meet any tax payable. |
| 134.
| | Assessment and additional assessments. [50, 37 of 2003][50, 12 of 2004] |
| 135.
| | Notice of assessment |
| 136.
| | Appeals to the Commissioner - General. [51, 37 of 2003] |
| 137.
| | Constitution of the Board of Review. |
| 138.
| | Appeals to the Board of Review. |
| 139.
| | Commissioner General may refer appeals 10 the Board of Review. |
| 140.
| | Hearing and determination of appeals by the Board of Review. [52, 37 of 2003] |
| 141.
| | Appeal on a question of law to the Court of Appeal.[53, 37 of 2003] |
| 142.
| | Assessment or amended assessments to be final. |
| 143.
| | Penalty for incorrect return. |
| 144.
| | Tax in default and sums added thereto.[54, 37 of 2003] |
| 144A.
| | Section 144A was Repealed by [39, 8 of 2005] |
| 144B.
| | Punishment for tax default.[51, 12 of 2004] |
| 145.
| | Tax to include fines &c |
| 146.
| | Tax to be a first charge. |
| 147.
| | Notice to defaulter. |
| 148.
| | Recovery of tax by seizure and sale. |
| 149.
| | Proceedings for recovery before Magistrate. |
| 150.
| | Recovery of tax out of debts &c. |
| 151.
| | Transfer of immovable property to Government in lieu of payment of tax in cash |
| 152.
| | Tax in default to be recovered from renumeration of employee. |
| 153.
| | Tax in default of partner to be recovered from the assets of a partnership. |
| 154.
| | Recovery of income tax from the income of a child. |
| 155.
| | Recovery of income tax payable by a beneficiary from the trustee. |
| 156.
| | Recovery of income tax payable by a beneficiary from the executor. |
| 157.
| | Gift tax to be recovered from the donee in certain circumstances. |
| 158.
| | Recovery of tax from persons leaving Sri Lanka. [52, 12 of 2004] |
| 159.
| | Use of more than one means of recovery. |
| 160.
| | Power of Commissioner-General to obtain information for the recovery of tax. |
| 161.
| | Liabilities of directors of private company in liquidation. |
| 162.
| | Delegation of Commissioner-General's powers and functions. |
| 162A.
| | Action not to commence after expiry of five years in certain circumstances. [40, 8 of 2005] |
| 163.
| | Signature and service of notice. |
| 164.
| | Validity of notice assessment &c. |
| 165.
| | Precedent partner to act on behalf of a partnership. |
| 166.
| | Principal officer to act on behalf of company or body of persons. |
| 167.
| | Who may act for incapacitated or non-resident person. |
| 168.
| | Indemnification of representative. |
| 169.
| | Tax paid in excess to be refunded. [54, 12 of 2004] |
| 170.
| | Interest payable on the amount of a refund in certain circumstances. |
| 171.
| | Penalties for failure to make returns making incorrect returns &c. |
| 172.
| | Breach of secrecy and other matters to be offences. |
| 173.
| | Penal provisions relating to fraud, &c [55, 12 of 2004] |
| 174.
| | Tax to be payable notwithstanding any prosecution or conviction for an offence under this Act. |
| 175.
| | Prosecutions to be with the sanction of the Commissioner-General. |
| 176.
| | Admissibility of statement and documents in evidence. |
| 177.
| | Officers. |
| 178.
| | Official secrecy. |
| 179.
| | Inland Revenue Incentive Fund. |
| 180.
| | Commissioner-General may pay rewards to information. |
| 181.
| | Regulation. |
| 182.
| | Forms. |
| 183.
| | Power to search buildings or places. |
| 184.
| | Power to search business premises. |
| 185.
| | Sinhala text to prevail in case of inconsistency. |
| 186.
| | Interpretation. [13, 8 of 2001] [33, 10 of 2002][22, 19 of 2003][56, 12 of 2004] |
| 187.
| | Application of the Inland Revenue Act No. 28 of 1979. [14, 8 of 2001] |
|