3. Indemnifi-liable— cation
Feedback & supportOfficial English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.
A person to whom this Act applies shall not be
-
{a) to pay—
for any year oi assessment ending on or before
March 31, 1992, any incor:ne tax or surcharge on income tax payable, respectively, under the law for the time being applicable to the ira-position of income tax or the law for the time being applicable to the imposition of surcharge on income tax, in respect of such part of the aggregate of—
the amount of the relevant foreign cur-zency lying to his credit on December 31, 1993, in any account referred to in section 2(1) (b) ; and
such part of the relevant foreign cur-rency deposited by him in any foreign currency account referred to in section 2(1) (b) as has been converted by him, on or before December 31, 1993, to Sri
Lanka currency ; and
such part. of the relevant:
foreign currency deposited by him in any foreign currency account referred to in seetinn 2¢1)(b) as has hcen remitted by him outside Sri Lanka on or before
December 31, 1993, with the written approval of the Controller of Exchange.
as represents his profits and income
;
for any year of assessment ending on or before
March 31, 1992, any wealth tax or surcharge on wealth tax payable, respectively, under the law for the time being applicable to the 1m-position of, wealth tax or of surcharge cn wealth tax, in respect of such part of his ret wealth for the acquisition of which such part of his profits and income as is referred ‘o in sub-paragraph (i), had been, utilized ; or
for any quarter ending on or before December 31, 19981, any business turnover tax payable uncer the Finance Act, No. 11 of 1963 or any turnover tex payable under the Turnovet
Tax Act, No. 69 of 1931, in respect of such part of the turnover from which such part of his profits and income as is referred to in sub-paragraph (i) arose or was derived ; or
to a prosecution or to a penalty for any offence under—
the law for the time being applicable to the im-position of, income tax or surcharge on in-come tax, or wealth tax or surcharge on wealth tax, in relation to any year of assess-ment ending on or before March 31, 1992, in respect of, or in connection with, such part of his profits and income as is referred to im paragraph (a) (i) or such part of his net wealth as is referred to in paragraph (a) (ii); or
the Finance Act, No. 11 of 1963 or the Turnover
Tax Act, No. 69 of 1981, in relation to any quarter ending on or before December 31,
1991, in respect of such part of his turnover as is referred to in paragraph (a) (iil) ; or
the Exchange Control Act, in respect of the whole or any part of the relevant foreign cur-rency deposited by himina foreign currency account referred to in section. 2(1) (6), in respect of which no return has been furrish-ed by him or which has not been disclosed in any return furnished by him under the Ex-change Control Act.