| |
| Finance (Amendment) |
| |
|
AN ACT TO AMEND THE FINANCE ACT, NO. 11 OF 2002
|
|
|
| |
|
BE it enacted by the Parliament of the Democratic Socialist Republic of Sri Lanka as follows :-
|
|
[15th December
, 2006 ]
|
|
Short title.
|
1. This Act may be cited as the Finance (Amendment) Act, No. 48 of 2006.
|
|
Amendment of section 2 of Part 1 of the Finance Act, No. 11 of 2002.
|
2. Part I (Port and Airport Development Levy) of the Finance Act, No. 11 of 2002 (as last amended by Act, No. 11 of 2006), is hereby further amended in section 2 thereof as follows :-
|
(1) by the repeal of the first proviso to that section and the substitution therefor of the following :-
|
|
“Provided that, in respect of the cost, insurance and freight value of any article referred to above, there shall be charged and levied :
|
(a) for the period commencing November 19, 2004 and ending on December 31, 2005, a levy at the rate of 1.5 percentum;
|
|
(b) for the period commencing January 1, 2006 and ending on December 31, 2006, a levy at the rate of 2.5 percentum; and
|
|
(c) for the period commencing January 1, 2007, a levy at the rate of 3.0 percentum.”; and
|
|
|
(2) by the addition immediately after the second proviso to that section of the following proviso :-
|
|
“Provided further that the Minister may from time to time, having regard to the interests of the national economy, by Order published in the Gazette-
|
(a) exempt from the operation of the above levy, any item specified therein; or
|
|
(b) specify a concessionary rate to be charged and levied in respect of any item or items specified therein.
|
|
|
Every Order made in terms of this proviso by the Minister shall-
|
(i) be in operation immediately upon the Minister affixing his signature thereto;
|
|
(ii) be published in the Gazette as soon as convenient;
|
|
(iii) be approved by Resolution of Parliament as soon as convenient thereafter; and
|
|
(iv) if not approved by Parliament, be deemed to be rescinded with effect from the date of such Resolution.”.
|
|
|
|
Operation of Act.
|
3. The provisions of this Part shall come into operation from January 1, 2007.
|
|
Amendment of section 14 of Part V of the Finance Act, No. 11 of 2006.
|
4. Part V of the Finance Act, No. 11 of 2006 is hereby amended in section 14, by the substitution for the words and figures “Act, No. 6 of 2005” of the words “Act, No. 5 of 2005 “.
|
|
Sinhala text to prevail in case of inconsistency.
|
5. In the event of any inconsistency between the Sinhala and Tamil texts of this Act, the Sinhala text shall prevail.
|
|
|
