Sri Lanka Consolidated Acts

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Inland Revenue (Amendment) Act (No. 49 of 1991) - Sect 18

Insertion of new section 32DD in the principal enactment

18. The following new section is hereby inserted immediately after section 32D of the principal enactment and shall have effect as section 32DD of that enactment: "
32DD. The Profits and income, of any foreign currency banking unit arising on or after April 1, 1991. from any on-shore foreign currency transaction, shall, notwithstanding anything to the contrary in any other provision of this Act, be liable to income tax at the rate of fifteen per centum.".

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