Inland Revenue (Amendment) Act (No. 14 of 1984)

Sri Lanka Consolidated Acts

Insertion of new section 20A in the principal enactment

8. The following new section is hereby inserted immediately after section 20, and shall have effect as section 20A, of the principal enactment:

20A.

	(1) Such part of the profits and income, within the meaning of paragraph (a) of section 3, (other than any profits and income from the sale of capital assets), of any undertaking as consists of the export profits and income of that undertaking shall be exempt from income tax for the period commencing on April 1, 1984 and ending on March 31, 1989.

	(2) In this section -

	(3) This section shall not apply to an undertaking for a year of assessment if the export profits and income of that undertaking are exempt from income tax under section 20(1) for that year of assessment.'.