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As enacted
Contents

Chapter III · Exemption from Income Tax

13. Exemption from income tax of certain subsidies

Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.

There shall be exempt from income tax any sum paid to any person as a subsidy or grant—

(a)

out of the Capital Fund established under the Sri

Lanka Tea Board Law, No. 14 of 1975 ;

(b)

out of the Rubber Replanting Subsidy Fund established under the Rubber Replanting Subsidy

Act, (chapter 437) ;

(c)

by the Coconut Cultivation Board established under the Coconut Development Act, No. 46 of 1971 ;

(d)

by the Ministry of Fisheries for the purchase by such person of fishing boats, marine engines, fishing gear and other fishing equipment ;

(e)

out of the Export Development Fund established by the Sri Lanka Export Development Act, No. 40 of 1979 ;

(f)

under any other scheme for the planting or replanting of any other agricultural product ;

(g)

out of the Mill Development Fund administered by the Coconut Development Authority established under the Coconut Development Act, No. 46 of 1971, for the modernization of machinery.

Chapter IV

Ascertainment of Profits or Income

Chapter V

Ascertainment of Total Statutory Income

Chapter VI

Chapter VII

Ascertainment of Taxable Income

Chapter VIII

Rates of Income Tax on Persons Other Than Companies

Chapter IX

Special Provisions Relating to the Taxation of Certain Profits and of Dividends Out of Such Profits

Chapter X

Companies