Inland Revenue (Amendment)

Inland Revenue (Amendment)

AN ACT TO AMEND THE INLAND REVENUE ACT, No. 28 of 1979.

BE it enacted by the Parliament of the Democratic Socialist Republic of Sri Lanka as follows:-

[5^th September
, 1986 ]

Short title

1. This Act may be cited as the Inland Revenue (Amendment) Act, No. 27 of 1986

Amendment of section 8 of Act, No. 28 of 1979

2. Section 8 of the Inland Revenue Act, No. 28 of 1979 (hereinafter referred to as the principal enactment) is hereby amended in paragraph (a) of that section as follows:-

(a) by the substitution, in sub-paragraph (XLVIII) of that paragraph, for the words “Greater Colombo Economic Commission Law, No. 4 of 1978;”; and

(b) by the addition, at the end of that paragraph, of the following:-

(XLIX) the Presidents Fund established by the Presidents Fund Act, No. 7 of 1978..

Amendment of section 15 of the principal enactment.

3. Section 15 of the principal enactment is hereby amended as follows:-

(a) by the substitution, in paragraph (s) of that section, for the words “Sri Lanka for re-export”, of the words “Sri Lanka for re-export;”; and

(b) by the addition, at the end of that section, of the following:-

(t) any sum received by a person from the Presidents Fund established by the President’s Fund Act, No. 7 of 1978..

Amendment of section 42 of the principal enactment

4. Section 42 of the principal enactment is hereby amended by the insertion, immediately after paragraph (s) of that section, of the following paragraph:-

(s) the Presidents Fund established by the Presidents Fund Act, No. 7 of 1978;.

Amendment of section 54 of the principal enactment.

5. Section 54 of the principal enactment is hereby amended in paragraph (e) of subsection (1) of that section, by the substitution for the words “Government or to any local authority”, of the words and figures “Government or to the Presidents Fund established by the Presidents fund Act, No. 7 of 1978 or to any local authority”.

Retrospective effect.

6. The amendments made to the principal enactment by sections 2, 3, 4 and 5 of this Act shall be deemed, for all purposes, to have come into force on the date of commencement of the principal enactment.