Inland Revenue (Amendment) Act (No. 40 of 1981)

Sri Lanka Consolidated Acts

Insertion of new section 22D in the principal enactment

9. The following new section is hereby inserted immediately after section 22c, and shall have effect as section 22n, of the principal enactment:-

22D.

	(1) The profits and income within the meaning of paragraph (a) of section 3 (other than any profits and income from the sale of capital assets) of any company referred to in subsection (2) shall be exempt from income tax for a period of ten years calculated from the date on which such company commences commercial production.

(2) The provisions of subsection (1) shall apply to any company which

(a) is engaged solely-

(b) is a quoted public company