As enacted

Contents

4. Amendment of the schedule of the principal enactment

Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.

The Schedule to the principal enactment is hereby amended as follows :—

(1)

by the substitution for items 4 and 5 of the Schedule of the following items :—

“4. Such part of the relevant turnover arising before April 1, 2008 as consists, of turnover from any trade, business, profession or vocation—

(i)

the profits and income from which are chargeable with income tax at any rate specified in the Fifth Schedule to the

Inland Revenue Act, other than in item 28 of that Schedule ;

0.5 per centum.

(ii)

carried on by any enterprise which has entered into an agreement under the

Board of Investment of Sir Lanka Law

No. 4 of 1978, being the relevant turnover during the period for which the profits and income of such enterprise are taxable at the rate equal to a rate specified in the

Fifth Schedule to the Inland Revenue

Act, No. 10 of 2006.

0.5 per centum.

4A. Such part of the relevant turnover arising on or after April 1, 2008 as consists, of turnover from any trade, business, profession or vocation—

(i)

the profits and income from which are chargeable with income tax at any rate specified in the Fifth Schedule to the

Inland Revenue Act, other than in item 24 and item 28 of that Schedule ;

0.5 per centum.

(ii)

carried on by any enterprise which has entered into an agreement under the

Board of Investment of Sri Lanka Law

No. 4 of 1978, being the relevant turnover during the period for which the profits and income of such enterprise are taxable at the rate equal to a rate specified in the

Fifth Schedule to the Inland Revenue

Act, No. 10 of 2006.

0.5 per centum.

5. Such part of the relevant turnover as consists of the turnover from any trade or business which deals in the wholesale or retail (other than as distributor) of motor vehicles or liquor not manufactured by the dealer :—

(i)

arising prior to April 1, 2008 0.5 per centum

Economic Service Charge (Amendment)

(ii)

arising on an after April 1, 2008 1.0 per centum”.

(2)

by the substitution for item 11 of the Schedule of the following items :—

“11. Such part of the relevant turnover arising prior to April 1, 2008 as consists of—

(i)

the turnover from the export of apparels or the supply of locally manufactured textiles to apparel exporters to be used in the manufacture of apparels for export by such exporter.

0.1 per centum

(ii)

the turnover of a trading house approved by the Board of Investment so far as such trading house engages in the business of the export of apparels.

0.1 per centum

11A. Such part of the relevant turnover arising on of after April 1, 2008 as consists of—

(i)

the turnover from—

(a)

the export of apparels ; or

(b)

supply of locally manufactured apparels to any exporter of apparels for export :

(c)

supply of locally manufactured textiles to any exporter of apparels to be used in the manufacture of apparels for export by such exporter.

(ii)

the turnover of a trading house approved by the Board of Investment in so far as such trading house engages in the business of the export of apparels.

0.1 per centum”.

Read on from s 5