5. Amendment of section 10 of the principal enactment

Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.

Section 10 of the principal enactment is hereby amended as follows:-

(1)

in subsection (1) of that section-

(a)

by the substitution in paragraph (v), for the words and figures “on or after April 1, 2016, carries on” of the words and figures “on or after April 1, 2016, but prior to January 1,

2020, carries on”;

(b)

by the insertion immediately after paragraph (v), of the following:-

“(vi) on or after January 1, 2020, carries on or carries out any taxable activity in Sri

Lanka shall be required to be registered under this Act, if—

(a)

at the end of any taxable period of one month or three months, as the case may be, the total value of the taxable supplies of goods or services or goods and services of such person, made in Sri Lanka in that taxable period of one month or three months, as the case may be, is seventy five million rupees or more; or

(b)

in the twelve months period then ending, the total value of the taxable supplies of goods or services or goods and services of such person, made in Sri Lanka has exceeded three hundred million rupees; or

(c)

at any time, there are reasonable grounds to believe that the total value of the taxable supplies of goods or services or goods and services of such person in Sri Lanka, in the succeeding one month or three months taxable period, as the case may be, is likely to exceed seventy five million rupees or in the succeeding twelve months period is likely to exceed three hundred million rupees.”;

(2)

in subsection (2) of that section by the substitution for the words “exempted under PART II of the First

Schedule to the Act, is not less than” of the words and figures “exempted under PART II of the First

Schedule to this Act, for any period prior to January 1, 2020, is not less than”.

Read on from s 6