8of2008.pdf
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PARLIAMENT OF THE DEMOCRATIC
SOCIALIST REPUBLIC OF
SRI LANKA
FINANCE (AMENDMENT)
ACT, No. 8 OF 2008
[Certified on 29th February, 2008]
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 February 29, 2008
PRINTEDAT THEDEPARTMENT OFGOVERNMENTPRINTING,SRILANKA
TO BEPURCHASED AT THEGOVERNMENT PUBLICATIONSBUREAU, COLOMBO 5
Price : Rs. 4.00 Postage : Rs. 5.00

Finance (Amendment) Act, No. 8 of 2008 1
[Certified on 29th February, 2008]
L.D.—O. 67/2007.
AN ACT TO AMEND THE FINANCE ACT, NO. 5 OF 2005
BE it enacted by the Parliament of the Democratic Socialist
Republic of Sri Lanka as follows :—
1. This Act may be cited as the Finance (Amendment) Short title.
Act, No. 8 of 2008.
2. The Finance Act, No. 5 of 2005 (hereinafter referred Amendment of
to as the “principal enactment”) is hereby amended in section Section 2 of
Act,No. 5 of
2 of Part I of that Act (Imposition of Social Responsibility
2005.
Levy) as follows :—
(1) by the repeal of paragraph (b) of that section, and
the substitution therefor of the following new
paragraphs :—
“(b) for the period commencing on January 1,
2006 and ending on December 31, 2007 at
the rate of 1 per centum ; and
(c) for the period commencing on January 1,
2008 at the rate of 1.5 per centum.”; and
(2) by the repeal of second proviso to that section and
the substitution therefor of the following :—
“ Provided futher that the Social Responsibility Levy
chargeable—
(a) under the provisions of the Inland Revenue
Act, No. 38 of 2000, in terms of the provisions
of this Part of this Act on income tax, shall, in
respect of the period commencing on January
1, 2006 and ending on March 31, 2006 be
calculated at the rate of 0.25 per centum ; and
2—PL 002793—6,400 (02/2008)
2 Finance (Amendment) Act, No. 8 of 2008
(b) under the provisions of the Inland Revenue
Act, No. 10 of 2006 in terms of the provisions
of this Part of this Act on income tax shall—
(i) in respect of the period commencing on
April 1, 2006 and ending on March 31,
2008 be calculated at the rate of 1.0 per
centum ;
(ii) in respect of the period commencing on
April 1, 2008 be calculated at the rate of
1.5 per centum ;.”.
Insertion of new 3. The following new section is inserted immediately
section 6A in the after section 6 of the principal enactment shall have effect as
principal
enactment. section 6A of that enactment:—
“Interpretation
6A. For the purposes of this Part—
for this Part.
“ company ” shall have the same meaning in
as in the Inland Revenue Act, No. 10 of
2006.”.
Amendment of 4. Schedule 1of the principal enactment is hereby
Schedule I of amended by the substitution for item 5 thereof the following
the principal
enactment. new items:—
“5. The Inland Revenue Act, No. 10 of 2006, other
than the provisions of Chapters XVI, XVII and
XXI and sections 36 and 65 in so far as such Act
applies to the period commencing April 1, 2006
and ending on March 31, 2008.”.
6. The Inland Revenue Act, No. 10 of 2006 (other
than the provision of Chapters XVI, XVII and
XXI and sections 36 to 65, in so far as such Act
applies to any company and to any period
commencing on or after April 1, 2008.”.
Finance (Amendment) Act, No. 8 of 2008 3
5. The amendment made to— Retrospective
effect.
(a) subsection (1) of section 2 of the principal enactment,
by subsection (1) of section 2 of this Act shall for all
purposes to be deemed to have come into operation
on January 1, 2008 ;
(b) subsection (2) of section 2 of the principal enactment,
by subsection (2) of section 2 of this Act and the
amendment to the First Schedule made by section 4
of this Act shall come into operation on April 1,
2008.
6. 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 Finance (Amendment) Act, No. 8 of 2008
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