13. In this Act unless the context otherwise requires - "agent", "allowance for depreciation" and "Assessor" shall have the respective meanings assigned to them in the Inland Revenue Act; "BOI enterprise" in relation to any relevant quarter means any enterprise in relation to which the exemption of its profits and income from income tax, in terms of any agreement entered into by the Board of Investment of Sri Lanka with such enterprise under section 17 of the Board of Investment of Sri Lanka Law, No. 4 of 1978, subsists during the whole or any part of that relevant quarter ; "body of persons", "business", "capital asset", Commissioner General", and "company" shall have the respective meanings assigned to them in the Inland Revenue Act ; "distributor" in relation to any manufacturer or producer of any goods in Sri Lanka means any person or partnership appointed by such manufacturer or producer for the sale in the wholesale market, of such goods, at such price as may be determined by such manufacturer or producer, from time to time ; "Inland Revenue Act" means the Inland Revenue Act, No. 10 of 2006 or any successor thereto providing for the taxation of income ; "partnership", "proceeds" and "profits or income" shall have the respective meanings assigned to them in the Inland Revenue Act ; "person" includes a company or a body of persons, but does not include -
| (a) any registered society, within the meaning of the Co-operative Societies Law, No. 5 of 1972: |
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| (b) any non-resident person carrying on business as an owner or charterer of an aircraft or ship: |
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"quarter" in relation to any year of assessment means the period of three months commencing on the first day respectively of April, July, October or January of that year of assessment ; and "statutory income", "taxable income", "trade" and "years of assessment" shall have the respective meanings assigned to them in the Inland Revenue Act. |
Sri Lanka Consolidated Acts