Sri Lanka Consolidated Acts Sri Lanka Consolidated ActsA company liable to the land tax and to the tax under the Companies Tax Act shall not be liable to the land tax if the amount of the land tax is less than the amount of the tax under the Companies Tax Act
| 52. Where any company which is liable to the land tax for any year of assessment is also liable to the tax under the Companies Tax Act, No. 35 of 1961, then, if the amount of the land tax is less than the amount of the tax under the Companies Tax Act, No. 35 of 1961, that company shall not be liable to pay the land tax for that year. |