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| Gem (Amnesty) |
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A LAW TO INDEMNIFY, AGAINST LIABILITY TO PROSECUTIONS AND TO PAY INCOME TAX OR BUSINESS TURNOVER TAX, PERSONS WHO SELL TO THE STATE GEM CORPORATION, OR TO TOURISTS FOR PAYMENT MADE IN FOREIGN CURRENCY, OR WHO EXPORT, GEMS PURCHASED WITH MONEYS IN RESPECT OF WHICH SUCH PERSONS HAVE EVADED PAYMENT OF ANY SUCH TAX.
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BE it enacted by the National State Assembly of the Republic of Sri Lanka as follows: –
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[9th May
, 1973 ]
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Short title and date of operation.
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1. This Law may be cited as the Gem (Amnesty) Law, No. 17 of 1973, and shall come into operation on such date as the Minister may appoint by Order published in the Gazette.
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Indemnification of certain persons against liability to prosecution and to pay income tax and business turnover tax.
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2. Where any person who had purchased any gem out of his specified income or turnover-
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(a) within the relevant period, sells such gem to the State Gem Corporation, or, being the holder of a licence issued under the State Gem Corporation Act, No. 13 of 1971, authorizing him to be a dealer in gems, sells such gem to a tourist for payment made in foreign currency, or
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(b) within the relevant period, exports such gem through the State Gem Corporation or under the authority, and in accordance with the terms and conditions, of any Order made under section 16 of the State Gem Corporation Act, No. 13 of 1971,
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then, such person shall not be liable-
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(i) to pay income tax or business turnover tax, or
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(ii) to a prosecution for any offence under the law relating to income tax or business turnover tax,
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in respect of such, amount out of the specified income or turnover as is equivalent to the aggregate of the sum which is proved to the satisfaction of the Commissioner of Inland Revenue to be the sum paid by such person for the purchase of such gem and a sum which the Commissioner of Inland Revenue considers reasonable for any expenses incurred in such sale or export:
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Provided, however, that nothing in the preceding provisions of this section shall affect the liability of such person to pay income tax or business turnover tax or to a prosecution under the law relating to income tax or business turnover tax, if investigations for any alleged or suspected contravention of the provisions of any such law have commenced prior to the date of enactment of this Law or affect the maintenance of any suit or prosecution pending on the date on which this Law comes into operation before any court against such person for any alleged contravention of any such law.
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Interpretation.
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3. In this Law-
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” foreign currency ” has the same meaning as in the Exchange Control Act;
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” gem ” has the same meaning as in the State Gem Corporation Act, No. 13 of 1971;
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” relevant period ” means the period of three months commencing on the date on which this Law comes into operation;
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” specified income or turnover ” means the income of, or the turnover of a business carried on by, a person, being income or turnover in respect of which such person has not made a return of income or turnover or which he has failed to disclose in any such return;
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” State Gem Corporation” means the State Gem Corporation established under the State Gem Corporation Act, No. 13 of 1971; and
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” tourist” means any person who is not a citizen of Sri Lanka and who holds a valid passport which bears an endorsement granted to him by an authorized officer under the Immigrants and Emigrants Act.
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