22. Avoidance of doubt

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

If–

(a)

an enterprise has entered into an agreement with the Board of Investment of Sri Lanka under section 17 of the Board of Investment of Sri Lanka Law, No. 4 of 1978 on or after

April 1, 2018 but prior to October 1, 2022;

and

(b)

such agreement provides for the profits and income of that enterprise or any dividend paid by that enterprise to be fully or partly exempt from income tax or to be taxed at a reduced rate of income tax,

Act, No. 4 of 2023

such profits and income of such enterprise or such dividend paid by such enterprise shall continue to be exempt from income tax payable, or shall be liable for income tax at the rate provided for in such agreement, as the case may be.

Read on from s 23