Sri Lanka Consolidated Acts Sri Lanka Consolidated ActsCompany liable to the tax under this Act and to the land tax under the Land Tax Act, No. 27 of 1961, shall not be liable to pay the tax under this Act if the amount of such tax is less than the amount of the land tax
| 5. Where a company which is liable to the tax under this Act for any financial year is also liable to the land tax under the Land Tax Act, No. 27 of 1961, for that year, then, if the amount of the tax under this Act is less than the amount of the land tax, such company shall not be liable to the tax under this Act for that year. |