FINANCE ACT

Arrangement of Sections

1. Short title.

PART I

BARS AND TAVERNS LEVY

2. Imposition of the Bars and Taverns Levy.

3. Default in payment of the levy.

4. Recovery of the levy in default.

5. Interpretation.

PART II

CASINO INDUSTRY LEVY

6. Imposition of the Casino Industry Levy.

7. Default in payment of the levy.

8. Recovery of the levy in default.

9. Interpretation.

PART III

SUPER GAIN TAX

10. Imposition of the Super Gain Tax.

11. Default in payment of the tax.

12. Interpretation.

PART IV

MOBILE TELEPHONE OPERATOR LEVY

13. Imposition of Mobile Telephone Operator Levy.

14. Default in payment of the levy.

15. Recovery of the levy in default.

16. Interpretation.

PART V

SATELLITE LOCATION LEVY

17. Imposition of the Satellite Location Levy.

18. Default in payment of the levy.

19. Recovery of the levy in default.

20. Interpretation.

PART VI

DEDICATED SPORTS CHANNEL LEVY

21. Imposition of the Dedicated Sports Channel Levy.

22. Default in payment of the levy.

23. Recovery of the levy in default.

24. Interpretation.

PART VII

MANSION TAX

25. Imposition of the Mansion Tax.

26. Default in payment of the tax.

27. Interpretation.

PART VIII

MIGRATING TAX

28. Imposition of the Migrating Tax.

29. Interpretation.

PART IX

MOTOR VEHICLE IMPORTERS LICENCE FEE

30. Imposition of the Motor Vehicle Importers Licence Fee.

31. Default in payment of the fee.

32. Recovery of the fee in default.

33. Interpretation.

PART X

GENREAL

34. Default by bodies of persons.

35. Regulations.

36. Sinhala text to prevail in case of inconsistency.

SCHEDULE

10 of 2015.

An Act to provide for the imposition of Bars and Taverns Levy, Casino Industry Levy, Super Gain Tax, Mobile Telephone Operator Levy, Satellite Location Levy, Dedicated Sports Channel Levy, Mansion Tax, Migrating Tax And Motor Vehicle Importers Licence Fee and to provide for matters connected therewith and incidental thereto.

[Date of Commencement: 30th October, 2015]

1. Short title.

This Act may be cited as the Finance Act.

PART I

BARS AND TAVERNS LEVY

2. Imposition of the Bars and Taverns Levy.

(1) There shall be levied, from every holder of a licence specified in the Schedule to this Act, issued under the Excise Ordinance (Chapter 52), who held such licence as at March 31, 2015, a levy to be called Bars and Taverns Levy (hereinafter in this Part referred to as “the levy”) of rupees two hundred and fifty thousand.

(2) Where a holder of a licence referred to in subsection (1), held more than one licence specified in the Schedule, he shall be liable to pay the levy in respect of every such licence.

(3) The levy shall be paid on or before November 15, 2015.

(4) The levy shall be collected by the Commissioner General and shall be remitted to the Consolidated Fund within fifteen days from the date of collection.

3. Default in payment of the levy.

(1) Any holder of a licence who fails to pay the levy as provided for in section 2, shall be deemed to be a defaulter under this Act.

(2) The provisions of section 4 shall apply to and in relation to the prosecution against any such defaulter and for the recovery of such levy.

4. Recovery of the levy in default.

(1) Where the amount of the levy or part thereof is in default, the Commissioner General shall issue a certificate containing particulars of the amount in default and the name and address of the last known place of residence or business of the defaulter to the Magistrate having jurisdiction over such place.

(2) The Magistrate shall thereupon summon the defaulter to show cause why proceedings for the recovery of the amount of the levy in default should not be taken against him.

(3) If sufficient cause is not shown by the defaulter, the amount of the levy in default shall by Order of the Magistrate be recovered as if it was a fine imposed by the Magistrate on such defaulter and shall when recovered, be remitted to the Commissioner General to be credited to the Consolidated Fund.

(4) In addition to the fine imposed under subsection (3), the licence issued to the relevant defaulter under Excise Ordinance (Chapter 52), may be cancelled by the Commissioner General with effect from December 31, 2015.

5. Interpretation.

In this Part of this Act, unless the context otherwise requires—

Commissioner General” means the Commissioner General of Excise appointed under section 7 of the Excise Ordinance (Chapter 52).

PART II

CASINO INDUSTRY LEVY

6. Imposition of the Casino Industry Levy.

(1) There shall be levied from every person who engaged in the business of a casino, as at January 29, 2015, a levy to be called the Casino Industry Levy (hereinafter in this Part referred to as “the levy”) of rupees one thousand million.

(2) Where a person referred to in subsection (1) engaged in the business of more than one casino, such person shall be liable to pay the levy in respect of every such casino.

(3) The levy shall be paid on or before November 15, 2015.

(4) The levy shall be collected by the Commissioner General and shall be remitted to the Consolidated Fund within fifteen days from the date of collection.

7. Default in payment of the levy.

(1) Any person who fails to pay the levy as provided for in section 6, shall be deemed to be a defaulter under this Act.

(2) The provisions of section 8 shall apply to and in relation to the prosecution against any such defaulter and for the recovery of such levy in default.

8. Recovery of the levy in default.

(1) Where the amount of the levy or part thereof is in default, the Commissioner General shall issue a certificate containing particulars of the amount in default and the name and address of the last known place of residence or business of the defaulter to the Magistrate having jurisdiction over such place.

(2) The Magistrate shall thereupon summon the defaulter to show cause why proceedings for the recovery of the amount of the levy in default should not be taken against him.

(3) If sufficient cause is not shown by the defaulter, the amount of the levy in default shall by Order of the Magistrate be recovered as if it was a fine imposed by the Magistrate on such defaulter and shall when recovered, be remitted to the Commissioner General to be credited to the Consolidated Fund.

9. Interpretation.

In this Part of this Act, unless the context otherwise requires—

“casino” means any premises to which individuals have access—

(a) with or without payment;

(b) whether as of right or not,

for the playing of any game for a stake and includes the playing of baccarat, puntobanco, big six, blackjack, boule, chemin - de- fer, chuck - a - luck, crown and anchor, faro, faro bank, hazard, poker dice, pontoon, American frcanch roulette, trente - et - quarntc, vingt - et - um, or wheel of fortune or any other game which the Minister may, from time to time prescribe by regulations;

“Commissioner General” means the Commissioner General of Inland Revenue appointed or deemed to be appointed under the Inland Revenue Act, No. 10 of 2006;

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