2. Amendment of section 2 of Act…

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

Section 2 of the Economic Service Charge Act,

No. 13 of 2006 (hereinafter referred to as the “principal enactment”) is hereby amended as follows:-

(1)

in subsection (1) of that section, by the substitution for the words and figures “Schedule I or Schedule II as the case may be” of the words and figures

“Schedule I, Schedule II or Schedule III as the case may be”;

(2)

in subsection (2) of that section, by the repeal of paragraph (c) thereof, and the substitution therefor of the following new paragraphs -

“(c)

commencing on or after April 1, 2011, but before April 1, 2012, does not exceed rupees twenty-five million;

(d)

commencing on or after April 1, 2012, does not exceed rupees fifty million.”; and

(3)

in subsection (3) of that section-

(a)

in paragraph (a) by the substitution for the words “whether directly or through an agent or more than one agent:” of the following:-

“whether directly or through an agent or more than one agent:

Provided that, in relation to any relevant quarter commencing on or after April 1, 2012, where such part of the taxable income as consists of profits from any trade, business, profession or vocation assessed under the provisions of Inland Revenue Act, No. 10 of 2006 for the year of assessment which ended immediately prior to the commencement of the year of assessment to which such quarter belongs, is more than zero, the relevant turnover for such quarter shall be deemed to be zero.”;

(b)

in paragraph (b)-

(i)

in item (viii) of sub-paragraph (a) of that paragraph, by the substitution for the words “Tourism Act, No. 38 of 2005; and” of the words “Tourism Act,

No. 38 of 2005;” and

(ii)

by the addition, immediately after item (viii) of sub-paragraph (a) of that paragraph, of the following new item:—

“(ix)

proceeds from the sale of any clay roof tile or pottery product by any manufacturer of such product;

and”.

Read on from s 3