Finance Act 2019 · As enacted · Part III · Amendment of Part XII of the Finance Act…
5. Replacement of section 46 of Act…
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
Section 46 of the Finance Act, No. 35 of 2018 is hereby repealed and the following new section is substituted therefor:—
46. (1) Where the amount of the levy or part thereof is in default, the defaulter shall be liable to pay to the Commission, in addition to the levy in default, a surcharge calculated—
at the rate of ten per centum of the amount of such levy as is in default for the subsequent period of one month or part thereof, from the due date for the payment of the levy under section 44; and
at the rate of two per centum of the amount of such levy as is in default for the subsequent period of one month or part thereof, from the due date for the payment specified in paragraph (a), which surcharge shall be collected by the
Commission.
The Commission shall take action to recover any levy which is in default for a period of more than three months, along with the amount of the surcharge accrued thereon, in the manner as is specified hereafter.
The Commission shall cause to be issued on the defaulter, a Notice, informing the defaulter of the intention of the Commission to institute proceedings for the recovery of the amount of the levy in default and the surcharge accrued thereon in terms of the provisions of this section unless such levy and the surcharge thereon is paid within a period of three weeks of the date of issue of such Notice.
“Recovery of the levy in default.
Where the Commission issues Notice on the defaulter in terms of subsection (3) but the amount of the levy in default along with the surcharge thereon remains unpaid even though the period of three weeks specified in such
Notice has elapsed, the Commission shall under the hand of the Chairman, issue to the
Magistrate having jurisdiction over the division in which the defaulter resides or is carrying on business, a Certificate containing the name and address of the defaulter and the total sum in default along with a statement to the effect that the person so named has defaulted in making the payment as required by this section.
Where the defaulter is a body corporate, a firm or a body unincorporated other than a firm, the certificate shall contain the names of every director and officer responsible with the management and control of such body corporate or, of every partner of such firm or, of every officer responsible with the management and control of such body unincorporate.
The Magistrate shall on receipt of the
Certificate issued under subsection (4), issue summons on the defaulter requiring such defaulter to appear before him on a date to be specified and show cause as to why the amount specified in such certificate should not be recoverd from such defaulter. Where the cause shown appears to the Magistrate to be insufficeient so as to explain the reason for the nonpayment, the Magistrate shall after recording the same, make order for the recovery of the amount specified in such certificate, from the defaulter as if it were a fine imposed by the
Magistrate. The money so recovered shall be remitted to the Commission, which shall credit the same to the Consolidated Fund.”.
Part IV
Imposition of a Levy on Foreign Commercial Transactions
Part V