8. Any person to whom this Act applies, who has deposited any moneys in any such special account as is referred to in section 3, shall not be liable-
| (a) to pay-
| | (i) any income tax or surcharge on income tax payable respectively, under the law for the time being applicable to the imposition of income tax and the law for the time being applicable to the imposition of surcharge on income tax, in respect of such part of his profits and income for any year of assessment ending on or before March 31, 1996, as is represented by him in such special account; | | |
| | (ii) any wealth tax or surcharge on wealth tax payable respectively, under the law for the time being applicable to the imposition of wealth tax and the law for the time being applicable to the imposition of surcharge on wealth tax in respect of such part of his net wealth for any year of assessment ending on or before March 31, 1996, as was acquired by the utilization of any such part of his profits and income as is referred to in sub-paragraph(i); | | |
| | (iii) any business turnover tax under the Finance Act, No. 11 of 1963 or nay turnover tax under the Turnover Tax Act, No. 69 of 1981 or any National Security Levy under the National Levy Act, No. 52 of 1991, in respect of the turnover from which such part of the profits and income as is referred to in sub paragraph (i), arose or was derived; or | | |
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| (b) to a prosecution or to a penalty for any offence under-
| | (i) the law for the time being applicable to the imposition of, income tax or surcharge on income tax or wealth tax or the surcharge on wealth tax in relation to any year of assessment ending on or before March 31, 1996, in respect of, or in connection with, such part of his profits and income as is referred to in sub-paragraph (i) of paragraph (a) or such part of his net wealth as is referred to in sub-paragraph (ii) of paragraph (a) ; | | |
| | (ii) the Finance Act, No. 11 of 1963 or the Turnover Tax Act, No. 52 of 1991 in respect of , or in connection with, such turnover as is referred to in sub-paragraph (iii) of paragraph (a); | | |
| | (iii) the Exchange Control Act, in respect of the whole or any part of the relevant foreign currency converted and deposited by him in such special account. | | |
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Sri Lanka Consolidated Acts