53C.
| (1) Where a person during the year preceding any year of assessment commencing on or after April 1, 1965, exports from Ceylon any goods manufactured by him in Ceylon, such person shall be entitled to a 1224 set-off against the income tax payable by him in respect of that year of assessment of an amount equal to five per centum of the f.o.b. value of the goods so exported, if the Assessor is satisfied that the following conditions are fulfilled: -
| | (a) that such goods fall within the class or description of goods approved for the purposes of this section by the Minister of Finance after consultation with the Minister in charge of the subject or function of industries and the Minister in charge of the subject or function of commerce and set out in a notification published in the Gazette, | | |
| | (b) that such goods were exported by such person for purposes of trade, | | |
| | (c) that the net amount of foreign currency obtained by the export of such goods-
| | | (i) is certified by a prescribed authority, and |
| (ii) is an amount equivalent to at least twenty-five per centum of the f.o.b. value of such goods. |
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| (2) In subsection (1) of this section- |
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Sri Lanka Consolidated Acts