Sri Lanka Consolidated Acts

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Inland Revenue Act (No. 38 of 2000) - Sect 40

Rate of income tax on profits from certain undertakings carried on by a company

40.
(1) Where the taxable income of any company for any year of assessment includes any profits and income [within the meaning of paragraph (a) of section 3] from any"
(a) agricultural undertaking :
(b) undertaking for the promotion of tourism : or
(c) undertaking for construction work.
(2) For the purposes of subsection (1) the expressions "agricultural undertaking", "any undertaking for the promotion of tourism", "the profits and income from am agricultural undertaking" and "undertaking for construction work" shall have the respective meanings assigned to them in section 39.

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