32. Amendment of section 107 of the principal enactment

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

Section 107 of the principal enactment as last amended by Act, No.8 of 2012 is hereby further amended in subsection (3) of that section as follows:-

(a)

by the substitution in paragraph (a) of that subsection, for the words “ “approved accountant”

means –”, of the words “ “approved accountant”

for any year of assessment commencing prior to

April 1, 2014 means -”;

(b)

by the insertion immediately after paragraph (a) of that subsection, of the following new paragraph:-

“(aa)

“approved accountant” for any year of assessment commencing on or after April 1, 2014 means an accountant who is a member of the Institute of Chartered

Accountant of Sri Lanka;”; and

(c)

by the substitution in paragraph (b) of that subsection, for the words “commercial practices and accounting standards;”, of the words “commercial practices and accounting standards and the operational profits calculated in accordance with the Sri Lanka Financial Reporting Standards;”.

Read on from s 33