Social Security Contribution Levy (Amendment) Act 2024

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

s 1Short title

This Act may be cited as the Social Security

Contribution Levy (Amendment) Act, No. 15 of 2024.

s 2Amendment of section 4 of Act, No. 25 of 2022

Section 4 of the Social Security Contribution Levy

Act, No. 25 of 2022 (hereinafter referred to as the “principal enactment”) is hereby amended by the repeal of subsection (1) thereof and the substitution therefor, of the following:-

“4. (1) Every taxable person, other than a taxable person referred to in paragraph (a) of section 2, who, carries on or carries out any activity referred to in section 2 (in this Act referred to as a “taxable activity”)

shall be required to be registered under this Act by making an application for such purpose to the

Commissioner-General of Inland Revenue (in this Act referred to as the “Commissioner-General”) in the specified form-

(a)

not later than fifteen days from the date of operation of this Act, in the case of a taxable person whose aggregate of the turnover, within the twelve months period immediately prior to the date of operation of this Act, exceeded one hundred and twenty million rupees;

(b)

for any quarter commencing prior to January 1, 2024, not later than fifteen days from the date on which the aggregate of the turnover for a quarter exceeds or likely to exceed thirty million rupees, in the case of a taxable person to whom paragraph (a) does not apply;

(c)

for any period commencing on or after

January 1, 2024, not later than fifteen days from the date on which the aggregate of the turnover for a quarter exceeds or likely to exceed fifteen million rupees or from the date on which the aggregate of the turnover for a period of consecutive four quarters exceeds or likely to exceed sixty million rupees:

Provided that, a taxable person to whom paragraph (c) applies shall be deemed to have complied with the requirement of registration under this subsection, if such person makes an application for such purpose to the

Commissioner-General in the specified form not later than fifteen days from the date of operation of this

(Amendment) Act.”.

s 3Amendment of section 5 of the principal enactment

Section 5 of the principal enactment is hereby amended in subsection (1) thereof as follows:-

(1)

in paragraph (a) thereof, by the substitution for the words and figure “in section 2; or”, of the words and figure “in section 2;”;

(2)

in paragraph (b) thereof, by the substitution for the words “each immediately preceding four quarters of the relevant quarter does not exceed hundred and twenty million rupees.”, of the words and figures

“each immediately preceding four quarters of the relevant quarter prior to January 1, 2024, does not exceed hundred and twenty million rupees; or”;

and

(3)

by the addition immediately after paragraph (b) thereof, of the following:-

“(c)

for any period commencing on or after

January 1, 2024, the aggregate turnover of such registered person for a period of consecutive four quarters does not exceed sixty million rupees.”.

s 4Sinhala text to prevail in case of inconsistency

In the event of any inconsistency between the Sinhala and Tamil texts of this Act, the Sinhala text shall prevail.