Sri Lanka Consolidated Acts

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Land Tax Act (No. 27 of 1961) - Sect 9

Set-off against the land tax in certain circumstances. [ 19, 10 of 1962.]

7B. Where the aggregate of-
(a) the land tax to which a company is liable for any year of assessment, and
(b) the income tax to which that company is liable for that year of assessment,
exceeds eighty per centum of the assessable income of that company for that year of assessment, such excess shall be set off against the land tax to which that company is liable.

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