27. Section 61 of the principal enactment is hereby amended as follows :-
| (1) in subsection (1) of that section, by the substitution for the words "payable to any shareholder" of the words repayable to a shareholder in any year of assessment commencing prior to April 1,2002"; and |
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| (2) by the insertion, immediately after subsection (1) of that section, of the following subsection :-"
| | "(1A) Every resident company, shall be entitled to deduct from the amount of any gross dividend payable to any shareholder, on or after April 1, 2002. in the form of money or an order to pay money out of profits on which the taxable income of that company is computed for any year of assessment, income tax equal to ten per centum."; and | | |
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| (3) in subsection (6) of that section, by the substitution, for the words and figures "under subsection (1)". of the words and figures "under subsection (1) or (1 A)" |
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Sri Lanka Consolidated Acts