9.There shall be exempt from income tax -
| (a) the interest accruing to any company, partnership or other body of persons outside Sri Lanka, from any loan granted by that company, partnership or body of persons to the Government of Sri Lanka or to any public corporation or to any Government institution or to any commercial bank for the time being operating in Sri Lanka or to any other undertaking, if such loan is approved by the Minister as being essential for the economic progress of Sri Lanka; |
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| (b) the interest accruing to any person or partnership outside Sri Lanka, from any security, note or coupon issued by the Government of Sri Lanka in respect of a loan granted in foreign currency by that person or partnership to the Government of Sri Lanka, if such loan is approved by the Minister as being essential for the economic progress of Sri Lanka; |
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| (c) the interest accruing to any person from moneys lying to his credit in a special account opened by him or on his behalf in a commercial bank with the approval of the Central Bank of Sri Lanka, for the deposit in accordance with the conditions imposed by the Central Bank of Sri Lanka, of sums obtained by him by the exchange of foreign currency held by him outside Sri Lanka; |
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| (d) the interest accruing to any person on moneys lying to his credit in foreign currency in any account opened by him or on his behalf , in any commercial bank or in any specialised bank, with the approval of the Central Bank of Sri Lanka; |
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| (e) the interest accruing to any person on moneys invested in Reconstruction Bonds issued by the Government of Sri Lanka, denominated in United States Dollars; |
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| (f) the interest accruing to any person on moneys invested in Sri Lanka Development Bonds denominated in United States Dollars, issued by the Central Bank of Sri Lanka; |
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| (g) the interest accruing to any person on moneys lying to his credit in foreign currency with any foreign currency banking unit; |
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| (h) such part of any interest as does not exceed two hundred thousand rupees accruing or arising in any year of assessment to any individual who is a citizen of Sri Lanka and resident in Sri Lanka and who is more than fifty nine years old the first day of that year of assessment, from any deposit maintained in the National Savings Bank established by the National Savings Bank Act, No. 30 of 1971 or by the Bank of Ceylon established by the Bank of Ceylon Ordinance (Chapter 397) or the People's Bank established by the People's Bank Act, No. 29 of 1961 or the State Mortgage and Investment Bank established by the State Mortgage and Investment Bank Law, No. 13 of 1975 or the Housing Development Finance Corporation Bank of Sri Lanka established by the Housing Development Finance Corporation of Sri Lanka Act, No. 7 of 1997 as amended by Act, No. 15 of 2003 or the SME Bank Ltd. and Lanka Puthra Development Bank Limited incorporated under the Companies Act, No. 17 of 1982 or any bank established under the Regional Development Banking Act, No. 6 of 1997; |
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| (i) the interest or discount accruing or arising to any individual from a Sri Lanka Nation Building bond denominated in foreign currency and issued by or on behalf of the Government of Sri Lanka, being a bond purchased by such individual ; |
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| (j) the interest accruing in any year of assessment to any charitable institution, where it is proved to the satisfaction of the Commissioner-General in relation to that year of assessment, that such interest is applied solely for the purpose of providing care for the children, the elderly or the disabled, in a home maintained by such charitable institution. |
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Sri Lanka Consolidated Acts