ACT, No. 13 OF 2015

13of2015.pdf
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PARLIAMENT OF THE DEMOCRATIC
SOCIALIST REPUBLIC OF
SRI LANKA
ECONOMIC SERVICE CHARGE (AMENDMENT)
ACT, No. 13 OF 2015
[Certified on 30th October, 2015]
Printed on the Order of Government
Published as a Supplement to Part II of the Gazette of the Democratic
Socialist Republic of Sri Lanka of October 30, 2015
PRINTEDATTHE DEPARTMENTOFGOVERNMENTPRINTING,SRILANKA
TO BEPURCHASED AT THE GOVERNMENT PUBLICATIONS BUREAU, COLOMBO 5
Price : Rs. 6.00 Postage : Rs. 20.00

Economic Service Charge (Amendment) 1
Act, No. 13 of 2015
[Certified on 30th October, 2015]
L.D.—O. 13/2015
ANACT TO AMEND THE ECONOMIC SERVICE CHARGE
ACT, NO. 13 OF 2006
BE it enacted by the Parliament of the Democratic Socialist
Republic of Sri Lanka as follows:-
1. (1) This Act may be cited as the Economic Service Short title and
Charge (Amendment) Act, No. 13 of 2015. dates of
operation.
(2) The provisions of this Act other than sections 3, 4, 5
and 7 shall be deemed to have come into operation on April
1, 2015 and the provisions of sections 3, 4 and 5 of this Act
shall come into operation on such date as the Minister may
appoint by Order published in the Gazette. The provisions
of section 7 shall be deemed to have come into operation on
April 1, 2011.
2. Section 3 of the Economic Service Charge Act, No. 13 Amendment of
of 2006 (hereinafter referred to as the “principal enactment”) section 3 of
Act, No. 13 of
as last amended by Act, No.9 of 2014 is hereby further
2006.
amended by the insertion, immediately after subsection (3A)
of that section, of the following new subsection-
“(3B) Where any commercial bank or specialized
bank licensed under the Banking Act, No. 30 of 1988,
finance company licensed under the Finance Business
Act, No. 42 of 2011 or leasing company registered
under the Finance Leasing Act, No. 56 of 2000, acquires
or merges with the business of any other bank, finance
company or leasing company under the Financial
Sector Consolidation Process of the Central Bank of
Sri Lanka and there remains any balance of service
charge paid by such banks, finance companies or
leasing companies after the deduction from the income
tax payable in that year of acquisition or merger and
which is entitled to be carried forward and deducted
from income tax payable by such banks, finance
companies or leasing companies, then such balance
2—PL 009223—2,950 (09/2015)
2 Economic Service Charge (Amendment)
Act, No. 13 of 2015
shall be deductible from the income tax payable by
such bank, finance company or leasing company that
acquired the business or with which the other bank,
finance company or leasing company merged, as if the
same bank, finance company or leasing company were
continuing to carry on the business.”.
Amendment of 3. Section 5 of the principal enactment is hereby
section 5 of the amended, by the substitution for the words “by
principal
communication in writing addressed to the Commissioner
enactment.
General”, of the words “by communication in writing
addressed to the Commissioner General or by electronic
communication to the Commissioner General”.
Amendment of 4. Section 7 of the principal enactment as last amended
section 7 of the by Act, No. 11 of 2011 is hereby amended in subsection (1)
principal
enactment. of that section, by the substitution for the words “furnish to
an Assessor”, of the words “furnish in writing or by electronic
means to an Assessor”.
Amendment of 5. Section 9 of the principal enactment as last amended
section 9 of the by Act, No. 9 of 2014 is hereby amended in subsection (1) of
principal
enactment. that section, by the substitution for the words “by notice in
writing require”, of the words “by notice in writing require
or by notice in electronic communication require”.
Insertion of new 6. The following new section is hereby inserted
section 10B in immediately after section 10A of the principal enactment
the principal
enactment. and shall have effect as section 10B of that enactment :-
“The use of 10B. The Minister may, on the
electronic recommendation of the Commissioner General
communications
or electronic of Inland Revenue, make regulation for the
records. purposes of authorizing or facilitating the use
of electronic communications or electronic
records for matters specified in section 8 of the
Electronic Transactions Act, No. 19 of 2006.”.
Economic Service Charge (Amendment) 3
Act, No. 13 of 2015
7. Section 13 of the principal enactment as last amended Amendment of
by Act, No. 6 of 2013 is hereby further amended in the section 13 of the
principal
definition of the expression “person” as follows:-
enactment.
(1) in paragraph (f) by the substitution for the words
“Unit Trust or Mutual Fund; and”, of the words
“Unit Trust or Mutual Fund; ”;
(2) in paragraph (g) by the substitution for the words
“the Central Bank of Sri Lanka;”, of the words “the
Central Bank of Sri Lanka; and”; and
(3) by the addition immediately after paragraph (g), of
the following new paragraph:-”
(h) Lak Sathosa Limited registered under the
Companies Act, No. 7 of 2007 (effective from
April 1, 2011).”.
8. In the event of any inconsistency between the Sinhala Sinhala text to
and Tamil texts of this Act, the Sinhala text shall prevail. prevail in case
of inconsistency.

4 Economic Service Charge (Amendment)
Act, No. 13 of 2015
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