Finance Act 2012 · As enacted · Part III · Amendment of Part II of the Finance Act…
11. Amendment of the First Schedule to the principal enactment
Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.
Official translationFrom Department of Government Printing, unchanged
First Schedule to the principal enactment is hereby amended:–
by the repeal of the Heading to Part II of that
Schedule and the substitution therefor of the following :-
“For any year, where the first year of registration or the payment due date falls within the period commencing on January 1, 2011 and ending prior to November 22,
2011:—”;
by the repeal the example to Part II thereof and the substitution therefor of the following:-
“EXAMPLE
A luxury motor vehicle is registered on August 1,
2007, the levy applicable on such luxury motor vehicle for the year commencing on April 1, 2010
(which is the third year succeeding the year of registration) is Rs. 35,000.
A luxury motor vehicle is registered on August 1,
2011, the levy applicable on such luxury motor vehicle for that year (which is the year of registration) is Rs. 100,000.
A luxury motor vehicle is registered on August 1,
2012, the levy applicable on such luxury motor vehicle for the year commencing on April 1, 2013
(which is the first year succeeding the year of registration) is Rs. 100,000.”;
by the addition immediately affter Part II of the
First Schedule of the following Part :–
“PART III
For any year ending/commencing on or after November 22, 2011, in respect of which Part I and Part II of this Schedule is not applicable:-
Year
Rate
Rs.
1
For the year in which such luxury motor vehicle is registered (being a year commencing on or after November 22, 2011)
150,000
Year
Rate
Rs.
2
For the first year succeeding the year in which such luxury motor vehicle is registered 100,000 3
For the second year succeeding the year in which such luxury motor vehicle is registered 75,000 4
For the third year succeeding the year in which such luxury motor vehicle is registered 60,000 5
For the fourth year succeeding the year in which such luxury motor vehicle is registered 50,000 6
For the fifth year succeeding the year in which such luxury motor vehicle is registered 40,000 7
For the sixth year succeeding the year in which such luxury motor vehicle is registered 30,000 8
For the seventh year succeeding the year in which such luxury motor vehicle is registered
Nil”.