Section 7

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The Schedule to the principal enactment is hereby repealed and the following Schedule substituted therefor:—

Amendment of Schedule to the principal enactment.

Rate of the service charge

Applicable to that Part

“SCHEDULE

Part of the Liable Turnover

1. Such part of the relevant turnover as consists of the turnover from any trade, business, profession or vocation:

(i)

the profit and income from which are exempt from income tax;

(ii)

of 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 exempt from income tax under such agreement.

2. Such part of the relevant turnover as consists of the turnover from any trade or business which deals in wholesale or retail of such goods (other than as a distributor or dealer in motor vehicles or liquor) not manufactured or produced by the dealer.

3. Such part of the relevant turnover as consists of the turnover from the primary conversion of any produce of any tea, rubber or coconut plantation including desicated coconut, coconut oil, coconut fibre, copra and sheet rubber but excluding any such conversion which produces any alcoholic beverage.

4. Such part of the relevant turnover as consists of the 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.

0.25 per centum 0.25 per centum 0.25 per centum

(ii)

of 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.

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.

6. Such part of the relevant turnover as consists of the turnover from any trade, business, profession or vocation, the profits and income such are chargeable with income tax at the rates specified in Part A or B (i) of the Second Schedule to the

Inland Revenue Act, except in the case such turnover falls within the turnover referred to in items 1, 2 or 3 of this Schedule.

7. Such part of the relevant turnover as consists of the turnover from any trade or business of a distributor.

8. Such part of the relevant turnover as consists of the turnover from any trade, business, profession or vocation the profits and income of which are chargeable with income tax at any rate other than a rate specified in the Fifth Schedule to the

Inland Revenue Act, No. 10 of 2006.

9. Such part of the relevant turnover as consists of the turnover from any trade or business of carrying on any activity referred to in item 28 of the Fifth Schedule to the Inland Revenue Act,

No. 10 of 2006.

10. Such part of the relevant turnover, which consists of, the relevant turnover from any trade or business referred to in Section 42 of the Inland

Revenue Act, No. 10 of 2006.

0.5 per centum 0.5 per centum 0.05 per centum 1.0 per centum 1.0 per centum 0.5 per centum 0.1 percentum

11. Such part of the relevant turnover 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.

(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.

12. Any relevant turnover not referred to in items 1 to 11 above.

0.1 per centum.

Read on from s 8