22.
| (1) Notwithstanding anything to the contrary in any other law, the Authority shall be exempt from the payment of-
| | (a) any tax on the income or profits or other receipts of the Authority ; and | | |
| | (b) any stamp duty on any instrument executed by or on behalf, or in favour, of the Authority where, but for this exemption, the Authority would be liable to pay the stamp duty chargeable in respect of such instrument. | | |
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| (2) The Minister with the concurrence of the Minister in Charge of the subject of Finance may exempt the Authority from the payment of any customs duty on any goods purchased or imported out of its funds by the Authority, if the import of such goods is considered to be conducive for the advancement of the objects of the Authority. |
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| (3) In the case of any instrument containing any agreement between the Authority and any other person providing for payment to the authority for services rendered or to be rendered by the Authority, or otherwise in support of the Authority's work, both the Authority and such other person shall be exempt from the payment of any stamp duty on such instrument. |
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| (4) Any person making a payment to the Authority for services rendered by the Authority or as a contribution to the Fund of the Authority may claim the amount of such payment as a deduction from income in the year in which such payment is actually made for the purpose of computing liability for income tax of such person. |
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| (5) The provisions of this section shall have effect not with standing anything to the contrary in the Inland Revenue Act, No. 28 of 1979. |
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Sri Lanka Consolidated Acts