7. Amendment of section 16c of the principal enactment

Official English translation. The Sinhala text prevails. Open the official Sinhala text, official PDF on documents.gov.lk

Section 16C of the principal enactment as last amended by Act, No. 8 of 2012 is hereby further amended as follows:-

(1)

in Column 1 of the Schedule of subsection (1) of that section by the substitution for the words and figures “Any activity referred to in paragraph (a) of subsection (2), but not including services relating to agriculture (products shall be with a minimum of 35% value addition, if more than 50% of the production is to be sold in the domestic market)”, of the words and figures “Any activity referred to in paragraph (a) of subsection (2).

In case of manufacture of any article, such article shall be with a minimum of 35% value addition, if more than 50% of the production is to be sold in the domestic market.”; and

(2)

in subsection (2) of that section –

(i)

by the substitution in paragraph (b) of that subsection for the words and figure “Schedule to subsection (1); and” of the words and figure

“Schedule to subsection (1);”;

(ii)

by the substitution in paragraph (c) of that subsection, for the words and figures “after

April 1, 2011.” of the words and figures “after

April 1, 2011; and”;

(iii)

by the insertion immediately after paragraph (c) of that subsection, of the following new paragraph;-

“(d)

which is not formed by the splitting up or reconstruction or acquisition of any business which was previously in existence.”.

Read on from s 8