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As enacted
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5. 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. 8 of 2014 is hereby further amended in subsection (1) of that section as follows:-

(1)

by the substitution in paragraph (l) of that subsection for the words “the second mentioned dividend by that company.”, of the words “the second mentioned dividend by that company;” and

(2)

by the addition immediately after paragraph (l) of that subsection, of the following new paragraph:-

“(m)

any dividend paid to a shareholder of any new undertaking commenced on or after

April 1, 2015 for manufacture of products for export, and which is not formed by splitting-up or re-construction of an existing undertaking with an investment of not less than two million US Dollars

(or equivalent in any other currency) and for which depreciation allowances are entitled to under paragraph (h) of the first proviso to paragraph (a) of subsection (1) of section 25, where such dividends are paid out of such profits and income of such new undertaking during the period reckoned from the year of assessment in which such new undertaking commences to carry on commercial operations and another four years of assessment immediately succeeding that year of assessment.”.

Read on from s 6