Finance (Amendment) Act 2009 · As enacted
3. Insertion of new section 13A in 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
The following new section is hereby inserted immediately after section 13 of the principal enactment and shall have effect as section 13A of that enactment :-
13A. (1) Where any person or partnership makes any payment on or after April 1,
2009 to any construction contractor or sub-contractor, amounting to the value of any construction contract or sub-contract enforced in Sri Lanka by such contractor or subcontractor, as the case may be, under any agreement entered into on or after January 1,
2005, then such person or partnership shall be required to deduct from such payment, the
Construction Industry Guarantee Find Levy at the appropriate rate specified in the Second
Schedule to this Act, and to issue to such contractor or sub-contractor, a statement setting out details of such deduction in the format as specified by the Commissioner-General.
The provisions of sections 140, 142,
143, 144 and 145 of the Inland Revenue Act,
No. 10 of 2006 relating to duties of banks and financial institutions following deductions of income tax, default in the deduction of income tax, issue of assessments on banks and financial institutions, appeals and penalty for default shall, mutatis mutandis, be applicable to the duties of such persons and partnerships, in relation to the Construction Industry Guarantee
Fund Levy following deductions of construction industry guarantee fund levy, default in the deduction of construction industry guarantee fund levy, issue of assessments on such persons or partnerships, appeals and penalty for default.
The amount deducted as Construction
Industry Guarantee Fund Levy under aforesaid subsections shall be remitted by the person or partnership deducting the same, to the
Commissioner-General on or before the fifteenth day of the month immediately succeeding the month in which such deduction was made, together with a statement setting out the details of such deductions in the format as specified by the Commissioner-General.
On the production of the certificate relating to such deduction made and remitted to the Commissioner-General, any construction contractor or sub-contractor shall be entitled to deduct form the amount of the Construction
Industry Guarantee Fund Levy payable by such contractor or sub-contractor under section 13, the amount of any deduction made as
Construction Industry Guarantee Fund Levy by the person or partnership making the payment at the time of such payment.”.