28. Section 149 of the principal enactment is hereby amended, by the insertion immediately after subsection (5) of that section, of the following subsection:
| " (6) Notwithstanding anything to the contrary in section 35 and section 38, any tax deducted in accordance with section 38 in respect of a dividend paid by a resident company to a non-resident shareholder, in excess of the rate of tax on dividends specified in an agreement referred to in section 82 (1) between the Government of Sri Lanka and the Government of the country in which such shareholder is resident, shall be refunded to such shareholder, on Ii claim duly made in writing within three years of the end of the year in which such tax was deducted or within one year of the date on which such agreement comes into force, whichever is later.". |
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Sri Lanka Consolidated Acts