Finance Law

Finance Law A LAW TO IMPOSE A LEVY ON PRIVATE CABS WITH DISTINCTIVE NUMBERS OF THE SRI SERIES, TO AMEND THE FINANCE ACT, NO. 11 OF 1963, AND TO PROVIDE FOR MATTERS INCIDENTAL THERETO OR CONNECTED THEREWITH. BE it enacted by the National State Assembly of the Republic of Sri Lanka as follows:- Short title. 1. This Law may be cited as the Finance Law, No. 47 of 1973. PART ILEVY ON FRIGATE CARS WITH DISTINCTIVE NUMBERS OF THE SRI SERIES Imposition of the levy. 2. Every person who, on November 10, 1972, was the registered owner of a private car to which was assigned a distinctive number of the Sri series, and every person registered as the first owner of a motor vehicle registered after that date as a private car, shall pay a levy (hereinafter referred to as ” the levy “) as provided in section 3 (1) and in accordance with such regulations as may be made in that behalf under this Law: Provided however that the preceding provisions of this section shall not apply to- (1) any person who is exempted from payment of revenue licence fee raider section 31 (4) of the Motor Traffic Act, and (2) any person who, prior to November 10, 1972, applied for the cancellation of the registration of the private car, where on such application the registration of the car is cancelled by the Registrar of Motor Vehicles. Date of Payment of the levy and penalties. 3. (1) The levy shall be paid to the appropriate: licensing authority on or before December 31, 1973, or before the expiry of a period of three months from the date on which the vehicle was first registered as a private car, whichever is later: Provided however that the Minister may, if it appears to him to be necessary or expedient, by notification published in the Gazette, appoint a later date in “place of the aforesaid date, December 31, 1973. (2) Every person who fails to pay the levy on or before the date on which such levy falls due for payment in terms of subsection (1)- (a) shall be liable to par to the appropriate licensing authority – penalty amounting to twenty per centum. of the amount of the levy; and (b) shall be guilty of an offence under this Law (3) Every person guilty of an offence under this Law shall on conviction after summary trial before a Magistrate be liable to a fine not exceeding one thousand rupees. (4) Where the amount of the levy, and the penalty referred to in subsection (2), have not been paid to the appropriate licensing; authority before the expiry of a period of three months from the date on which such levy falls due for payment in terms of subsection (1): the appropriate licensing authority shall issue a certificate, containing particulars of such levy and penalty and the name and last known place of residence of the person who has failed to pay such levy and penalty, to a Magistrate having jurisdiction in the division in which such place is situated. The Magistrate shall order such levy and penalty to be recovered as though it were a fine imposed by a sentence of the Magistrate on such person. Registration of new owners of vehicles for which the levy is payable. (4) No person shall be registered under the Motor Traffic Act as the new owner of a motor vehicle in respect of which the levy is payable under section 2, unless such levy and penalty for failure to pay such levy, if any, is duly paid. Regulations. 5. (1) The Minister may make regulations for the purpose of carrying out the provisions and giving effect to the principles of this Law. (2) Without prejudice to the generality of the powers conferred by subsection (1), the Minister may make regulations for or in respect of the rates in accordance with which the levy shall be paid. (3) No regulation made under this Law shall have effect until it is approved by the National State Assembly and notification of such approval is published in the Gazette. Interpretation. 6. In this Part- ” distinctive number “, ” licensing authority” and “private car” shall have the same meanings respectively as in the Motor Traffic Act: “Minister” means the Minister to whom the subject or function of registration and licensing of motor vehicles is assigned by the Prime Minister; “registered” means registered under the Motor Traffic Act. PART IIAMENDMENT TO THE FINANCE ACT, NO. 11 OF 1973. Insertion of new section 152A in Act No. 11 of 1963. 7. The following new section is hereby inserted immediately after section 152, and shall have effect is section 152A, of Part XII of the Finance Act, No. 11 of 1963:- Repayment to an exporter of the business turnover tax paid on articles exported. 152A. (1) Subject to the provisions of exported from Sri Lanka by any person (hereafter in this section referred to as the “exporter”) and the Commissioner is satisfied- (a) that such article was produced or manufactured in Sri Lanka and was purchased by the exporter from the manufacturer or producer of such article; (b) that the price paid by the exporter for the purchase of such article forms part of the turnover of the business of that manufacturer or producer; and (c) that business turnover tax has in fact been paid by that manufacturer or producer in respect of the turnover of his business, such amount out of the business turnover tax paid in respect of the turnover of that business by the manufacturer or producer of that article as is attributable to the purchase price paid for that article by the exporter, shall be paid to the exporter by the Commissioner. (2) The provisions of subsection (1) shall apply in relation to any container. receptacle or wrapper in which an article referred to in that subsection in exported in the same manner as if all references to ” article ” in those provisions were references to such container, receptacle or wrapper, as the case may be. (3) No payment under subsection (1) shall be made by the Commissioner in respect of any article or any article and container, receptacle or wrapper in which such article is exported, unless a claim in writing for such payment is made by the exporter of such article not earlier than three months, and not later than nine months, after the export of such article.’.