4. Amendment of section 10 of the principal enactment

Official English translation. The Sinhala text prevails. Open the official Sinhala text, official PDF on documents.gov.lk

Section 10 of the principal enactment as last amended by Act, No. 9 of 2008, is hereby further amended in subsection (1) as follows :—

(1)

in paragraph (i) of that subsection, by the substitution for the words “within one year thereafter.”, of the words “within one year thereafter;”;

(2)

in paragraph (j) of that subsection, by the substitution for the words “through a bank.”, of the words “through a bank;”;

(3)

by the addition immediately after paragraph (j) of that subsection, of the following new paragraph:—

“(k)

any dividend paid to a shareholder of a company out of such profits and income of that company which are exempt from income tax under section 16C or section 17A of this Act, if such dividend is paid during the period for which such profits and income are exempt from income tax:

Provided that where such company is a resident company engaged in any construction project, then such exemption shall be applicable to any dividend paid by such company during the period for which such profits and income are exempt from income tax or within one year thereafter.”.

Read on from s 5