23. Amendment of section 2 of Part I of the Finance Act…

The Finance Act, No. 11 of 2002 is hereby amended in section 2 of Part I of that Act, (Port and Airport Development

Levy) by the repeal of the proviso to that section and the substitution therefor of the following :—

“Provided that, in respect of the cost, insurance and freight value of any article referred to above, there shall, with effect from November 19, 2004, be charged and levied a levy at the rate of 1.5 per centum :

Provided further, that in the case of an article imported into Sri Lanka for the purpose of processing and re-export, the levy on the cost, insurance and freight value of that atricle—

for the period Commencing on January 1, 2003 and ending on December 31, 2004 shall be charged and levied at the rate of 0.5 per centum ; and

for the period commencing on January 1, 2005, shall be charged and levied at the rate of 0.25 per centum.”.