Sri Lanka Consolidated Acts

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Inland Revenue Act (No. 28 of 1979) - Sect 22

Exemption from income tax of profits and income of certain non resident contractors

22. The profits and income accruing to any person from the performance of any contract which he has entered into-
(a) with the Government of Sri Lanka ; or
(b) with the proprietor of any undertaking referred to in section 16 in respect of the construction of any building for the purposes of such undertaking ; or
(c) with any such public corporation or institution as may be approved by the Minister,
shall be exempt from income tax if such person-
(i) at the time he entered into such contract, was a non resident person and did not have a place of business in Sri Lanka ;
(ii) satisfies the Commissioner-General that he entered into such contract for the sum stipulated therein on the basis that such sum would not be liable to income tax ; and
(iii) is specified by the Minister by Order published in the Gazette as being a person whose services are required for the economic development of Sri Lanka and to whom this section applies.


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