National Security Levy (Amendment)

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Published: 1997

National Security Levy (Amendment)
National Security Levy (Amendment)




AN ACT TO AMEND THE NATIONAL SECURITY LEVY ACT, No. 52 OF 1991








BE it enacted by the Parliament of the Democratic Socialist Republic of Sri Lanka as follows:-



[23rd December

, 1997 ]













Short title.



1. This Act may be cited as the National Security Levy (Amendment) Act, No. 37 of 1997.



Amendment of the long title of Act No. 52 of 1991.



2. The long title of the National Security Levy Act, No. 52 of 1991 (hereinafter referred to as "the principal enactment") is hereby amended by the substitution, for the words and figures "ON JANUARY 1, 1996 AND ON JANUARY 1, 1997 ; TO PROVIDE FOR", of the words and figures, "AND ON JANUARY 1,1996 AND FOR EVERY YEAR COMMENCING ON OR AFTER JANUARY 1,1997 ; TO PROVIDE FOR".



Amendment of section 3 of the principal enactment.



3. Section 3 of the principal enactment is hereby amended as follows:-





(1) in subsection (1) of that section, by the repeal of all the words from "January 1,1995, on January 1,1996 and on January 1,1997" to the end of that subsection, and the substitution of the following therefor:"



"January 1, 1995 and on January 1, 1996 and for every quarter of every year commencing on or after January 1, 1997, (hereinafter referred to as "the relevant quarter") a National Security Levy (hereinafter referred to as "the levy"), on the turnover or part thereof of that person for that quarter, calculated at the appropriate rates specified in the Schedule to this Act; and



(2) in subsection (2) of that section, by the repeal of paragraph (f) of that subsection, and the substitution of the following paragraphs therefor:"





(f) the value of any gold imported by such person;



(ff) the value of any gem or jewellery imported, by such person ;



(fff) the proceeds from the sale, of any gem or jewellery manufactured in Sri Lanka by such person ;".



Amendment of section 4 of the principal enactment.



4. Section 4 of the principal enactment is hereby amended by the substitution in Paragraph (g) of that section for the words and figures, "for every quarter commencing on or after January 1, 1997 but prior to January 1, 1998", of the words and figures, "for every quarter of every year commencing on or after January 1,1997".



Amendment of section 10 of the principal enactment.



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





(1) by the insertion, immediately after the definition of "Central Bank", of the following definition :-



" gem " means a gem within the meaning of the National Gem and Jewellery Authority Act, No. 30 of 1993 and includes platinum and silver';



(2) by the insertion, immediately after the definition of "importer", of the following definition :-



"jewellery " means jewellery within the meaning of the National Gem and Jewellery Authority Act, No. 5O of 1993 ; and



(3) by the insertion immediately after the definition of "person", of the following definition :-



"turnover" when used in relation to a person to whom this Act applies "





(a) who is not an importer, means the turnover, within the meaning of section 5 of the Turnover Tax Act, of that person; and



(b) who is an importer, means the aggregate of-





(i) the value of any article imported by such person (representing the true cost, insurance and freight value) ascertained for the purposes of customs duty in accordance with the Customs Ordinance;



(ii) the amount of customs duty, if any, paid on such article; and



(iii) twenty-five per centum of the amount resulting from the addition of the amounts referred to in sub-paragraphs (i) and (ii);.



Amendment of the Schedule of the principal enactment.



6. The Schedule of the principal enactment is hereby amended in item 7 of that Schedule by the substitution for the words and figures, "for any quarter commencing on or after January 1, 1997 but prior to January 1, 1998", of the words and figures, "for every quarter of every year commencing on or after January 1,1997".



Retrospective operation.



7. The amendment made to section 3 of the principal enactment by section 3 read with section 5 of this Act shall be deemed for all purposes to have come into force on November 6,1997.



Sinhala text to prevail in case of inconsistency.



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