8. Amendment of section 68 of the principal enactment

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

Section 68 of the principal enactment is hereby amended as follows: -

(1)

in subsection (3) of that section, by the substitution for the words “in any year of assessment”, of the words and figures “in any year of assessment prior to April 1, 2025,”; and

(2)

by the addition immediately after subsection (3) of that section, of the following new subsection: -

“(4) In the case of an institution referred to in sub-paragraph (a) of paragraph 1 of the

Fifth Schedule to this Act, with effect from the year of assessment commencing on April 1, 2025, where the Commissioner-General is satisfied that the cost of providing the services specified in such sub-paragraph is borne by such institution, the Commissioner-General shall grant a tax credit equal to the tax payable on the institution’s taxable income for the year of assessment.”.

Read on from s 9