2. Amendment of section 7 of Act…

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

Section 7 of the Inland Revenue Act, No.10 of 2006,

(hereinafter referred to as the “principal enactment”) is hereby amended as follows:—

(1)

in sub-paragraph (xvii) of paragraph (b) of that section, by the substitution for the words “being profits and income of that society”, of the words and figures “being profits and income of that society for any year of assessment ending on or before

March 31, 2008 or for any year of assessment commencing on or after April 1, 2013,”;

(2)

in sub-paragraph (iii) of paragraph (g) of that section, by the substitution for the words and figures

“Presidents Fund Act, No. 7 of 1978.”, of the words and figures “Presidents Fund Act, No. 7 of 1978;”;

(3)

by the addition immediately after paragraph (g) of that section, of the following new paragraphs:—

“(h)

the profits and income for every year of assessment within a period of five years, commencing on April 1, 2008, of any registered society within the meaning of the

Co-operative Societies Law, No. 5 of 1972;

(i)

the profits and income of the Api Wenuwen

Api Fund established by the Api Wenuwen

Api Fund Act, No.6 of 2008.”.

Act, No. 9 of 2008

Read on from s 3