15. Section 24 of the principal enactment is hereby amended in subsection (1) of that section, as follows :-
| (1) in paragraph (c) of that subsection :-
| | (a) by the substitution in sub-paragraph (iii) of that paragraph, for the words "training referred to", of the words and figures "prior to March 31, 2004, training referred to" ; and | | |
| | (b) in the proviso to that paragraph, by the substitution for the words and figures "any year of assessment commencing on or after April, 1, 2002", of the words and figures "any year of assessment commencing on or after April 1, 2002, but prior to April 1,2005." ; | | |
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| (2) in paragraph (d) of that subsection :-
| | (a) by the substitution for the Words "subsection (1) of section 23", of the words subsection (1) of section 23 prior to April 1, 2005,"; and | | |
| | (b) in the proviso to that paragraph, by the substitution for the words and figures "any year of assessment commencing on or after April 1, 2002, of the words and figures "any year of assessment commencing on or after April 1,2002 but prior to April 1, 2005 ;"; | | |
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| (3) in the proviso to paragraph (e) of that Subsection, by the substitution for the words and figures "on or after April 1,2002 if the expenses" of the words and figures "on or after April 1, 2002, but prior to April 1, 2005, if such expenses" ; |
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| (4) in paragraph (f) of that subsection, by the substitution for the words and figures "in any year of assessment commencing prior to April 1,2002;", of the words and figures "in any year of assessment commencing prior to April 1, 2002 and in any year of assessment commencing on or after April 1, 2005 ;" ; |
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| (5) in paragraph (1) of that subsection, by the insertion immediately after sub-paragraph (iv) of that paragraph, of the following new sub-paragraphs :-
| | "(v) any Economic Service Charge levied under Finance Act, No. 11 of 2004 on or after April 1st, 2004; | | |
| | (vi) any Value Added Tax on Financial Services levied under Chapter IIIA of the Value Added Tax Act, No. 14 of 2002, (inserted by amendment Act, No. 13 of 2004) on or after April 1,2005; | | |
| | (vii) any Social Responsibility Levy chargeable under the Finance Act, No, 5 of 2005 as is referred to in item (4) of the First Schedule to the said Act, levied on or after April 1, 2005 ;";and | | |
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| (6) by the addition at the end of that subsection, of the following new paragraphs:- |
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| (v) one half of such person's cost of advertisement in connection with any trade, business, profession or vocation carried on or exercised by him in any year of assessment commencing on or after April 1, 2005, other than the cost of advertisement outside Sri Lanka incurred solely in connection with the export trade of any articles or goods or the provision of any services for payment in foreign currency ; |
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| (w) any expenditure incurred in any trade or business carried on in Sri Lanka by any nonresident company, being expenditure in the nature of head office expenditure incurred in any period by reference to the profits and income of which the statutory income from such trade or business for any year of assessment commencing on or after April 1, 2005 is computed. For the purpose of this paragraph the expression "head-office expenditure" shall have the same meaning as given in section 24A of this Act". |
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Sri Lanka Consolidated Acts