26 February 2022 12:00 am Views - 115
By Sheain Fernandopulle
Health Minister Keheliya Rambukwella responded yesterday that he has cleared a bill amounting to Rs. 7 million but there is a disparity with figures released by the Ceylon Electricity Board (CEB) and he had on several occasions asked for clarification.
However the income of a partner derived from a partnership will not be taken into account when calculating the taxable income of such a partner as an individual, if the tax has been paid by the partnership.
The tax will be collected by the Department of Inland Revenue and remitted to the consolidated fund within 15 days of the date of collection.
The legislation makes provision to recover the tax surcharge out of assets of the defaulted individual, partnership or from an agent of any partner when it comes to a partnership.