FINANCE ACT – 2012

Arrangement of Sections

1. Short title.

PART I

AMENDMENT OF PART IIA OF THE FINANCE ACT, NO. 25 OF 2003

2. Amendment of section 13A of Part IIA of Finance Act, No. 25 of 2003.

3. Indemnity.

PART II

REPEAL OF PART IIIA OF THE FINANCE
ACT, NO. 11 OF 2004

4. Repeal of Part IIIA of Finance Act No. 11 of 2004.

5. Savings.

PART III

AMENDMENT OF PART II OF THE FINANCE
ACT, NO. 16 OF 1995

6. Replacement of section 3 of Finance Act, No.16 of 1995.

7.­ Replacement of section 4 of the principal enactment.

8. Replacement of section 5 of the principal enactment.

9. Insertion of new section 5A in the principal enactment.

10. Amendment of section 10 of the principal enactment.

11. Amendment of the First Schedule to the principal enactment.

12. Amendment of the Second Schedule to the principal enactment.

14. Retrospective effect.

15. Indemnity.

PART IV

EXEMPTION FROM APPLICATION OF THE PROVISIONS OF CUSTOMS ORDINANCE, EXCHANGE CONTROL ACT AND THE IMPORTS AND EXPORTS (CONTROL) ACT, NO. 1 OF 1969

16. Granting exemption to certain enterprises from application of the provisions of Customs Ordinance.

17. Granting exemption to certain enterprises from application of the provisions of Exchange Control Act.

18 Granting exemption to certain enterprises from application of the provisions of Imports and Exports (Control) Act.

18A. Granting exemption to certain enterprises from the application of the provisions of certain Acts.

18B. Extending the application of the provisions of the Inland Revenue Act, No. 10 of 2006 to certain enterprises.

18C. Extending the application of provisions of the Strategic Development Projects Act, No. 14 of 2008 to certain enterprises.

19. Enterprises are required to report periodically.

19A. Regulations.

19B. Interpretation.

20. Sinhala text to prevail in case of inconsistency.

Schedule

12 of 2012,

12 of 2013,

35 of 2018.