8. Exemption from income tax of certain persons (other than individuals) on the whole or any part of their profits and income

the Incorporated Council of Legal Education established by Council of Legal Education Act,

the Institute of Chartered Accountants of

the Sri Lanka Tea Board established by the

the Ceylon National Library Services Board established by the Ceylon National Library

any University which is established or deemed to be established under the Universities Act, No.

the Coconut Development Authority, the

the Widows’ and Orphans’ Pension Fund of public officers of Sri Lanka (Chapter 431) ;

any Widows’ and Orphans’ Pension Fund or

the World Tourism Organization ;

any institution or trust of a public character established by any written law solely for the purposes of scientific research ;

the United Nations Organization including the net annual value of any land and improvements thereon in Sri Lanka owned by and occupied by or on behalf of the Organization ;

the S.W.R.D. Bandaranaike National Memorial

the National Science Foundation established by the Science and Technology Development Act,

the Industrial Technology Institute established by the Science and Technology Development

the International Development Association ;

the Sri Lanka Standards Institution established by the Sri Lanka Standards Institution Act, No.

the Asian Development Bank ;

any Resort Authority constituted under subsection (1) of section 57 of the Tourist

the Ceylon Tourist Board established by the

the International Finance Corporation ;

the International Bank for Reconstruction and

the Monetary Board established by the Monetary

any registered society within the meaning of the

the Sri Lanka Foundation Institute established by the Sri Lanka Foundation Law, No. 31 of 1973 ;

the Tower Hall Theatre Foundation established by the Tower Hall Theatre Foundation Act, No.

the Sri Lanka Inventors Commission established by the Sri Lanka Inventors Incentives Act, No.

the Ceylon Medical Council established by the

Ayurvedic Medical Council established by the

the Homoeopathic Council established by

the Sri Lanka College of Physicians established by the Sri Lanka College of Physicians

the Institute of Engineers, Ceylon, incorporated by the Institute of Engineers, Ceylon Act, No.

the Sri Lanka Export Credit Insurance

the Sri Lanka Export Development Board established under the Sri Lanka Export

the Sri Lanka Ex-Servicemen’s Association established by the Sri Lanka Ex-Servicemen’s

a company registered under Part VIII of the

engaged in international operations ;

owned or chartered by such company ;

deemed to be a Sri Lanka ship by reason of a determination made under paragraph (c) of section 30 of the Merchant Shipping

the Institute of Fundamental Studies, Sri Lanka, established by the Institute of Fundamental

the International Winged Beans (Dambala)

the International Irrigation Management

the Sri Lanka Institute of Printing established by the Sri Lanka Institute of Printing Act, No.

the Energy Conservation Fund established by the Energy Conservation Fund Act, No. 2 of 1985 ;

the Tea Small Holdings Development Authority established by the Tea Small Holdings

the Co-operative Development Fund established under the Finance Act, No. 11 of 1963 ;

the Board of Investment of Sri Lanka established by the Board of Investment of Sri Lanka Law,

the President’s Fund established by the

the National Defence Fund established by the

the Sri Lanka Institute of Architects incorporated by the Sri Lanka Institute of

the Surveyors’ Institute of Sri Lanka incorporated by the Surveyors’ Institute of Sri

the Institute of Chemistry, Ceylon incorporated by the Institute of Chemistry (Ceylon) Act, No.

the Trust Fund set up with European Economic

Zones 2 and 3 of System B area ; and

System G area ;

the Agricultural and Agrarian Insurance Board established by the Agricultural and Agrarian

the Superior Courts Complex Board of

the International Committee of the Red Cross ;

the Institute of Policy Studies of Sri Lanka established by the Institute of Policy Studies of

the Credit Information Bureau of Sri Lanka established by the Credit Information Bureau of Sri Lanka Act, No. 18 of 1990 ;

Rubber Research Board established under the

the Buddha Sasana Fund established by the

the J.R. Jayawardene Centre established by the

the Institute of Supply and Materials

the Stabilization Fund for Tea, Rubber and

the Janasaviya Trust Fund incorporated under the Trust Ordinance (Chapter 96) ;

the Institute of Bankers of Sri Lanka established by the Institute of Bankers of Sri Lanka Act,

the Overseas Private Investment Corporation of the United States of America ;

the Overseas Economic Co-operation Fund of

the World Conservation Union ;

the Institute of Personnel Management, Sri

Public Enterprises Reform Commission of Sri

the Securities and Exchange Commission of Sri

the Bandaranaike Museum Committee incorporated under the Bandaranaike Museum

the Geological Survey and Mines Bureau established under the Mines and Minerals Act,

the Commonwealth Development Corporation ;

the India – Sri Lanka Foundation incorporated under the Companies Act, No. 17 of 1982 .

the income of any trust or other matter vested in or administered by such authority or institution, being income to which such authority or institution is not beneficially entitled ; and

the profits and income for any period commencing on the date of acquisition or vesting, as the case may be, of any business undertaking acquired by or vested in the Government under the Business Undertakings (Acquisition) Act, No.

the Government of any foreign country, being profits and income derived by that Government either directly or through any agency of that

the Government of the People’s Republic of

a foreign currency banking unit from all off-shore transactions of the unit.

the profits of a business carried on by that institution if such profits are applied solely to a charitable purpose of that institution and—

either the business is carried on in the course of the actual carrying out of a primary purpose of that institution or the work in connection with the business is mainly performed by beneficiaries of that institution ;

such institution receives grants from the

the net annual value of—

any place of public worship and its premises administered by such institution ;

any place or premises owned and occupied by such institution solely for any of the purposes of that institution ;

the profits and income from any property donated by royal or other grant before March 2, 1815, to any place of public worship administered by such institution, in so far as such profits and income are applied to the purposes for which such grant was made ;

carried on by individuals who are not citizens of

approved by the Minister ;