37. The rate of income tax on profits from employment, for a specified period of a non citizen employed in Sri Lanka

1995, 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, and who is deemed under the proviso to subsection (7) of section 73 to be non-resident for a period of five years, continues to be employed in such flagship company after the expiry of such period, the profits from employment in such flagship company of such individual for the period commencing from the end of such period of five years and ending on the date on which the exemption of the profits and income of such flagship company, under the terms of such agreement, ceases, shall notwithstanding any thing to the contrary in this Act, be chargeable with income tax at the rate of fifteen per centum.