Volume III

FINANCE ACT – 2019

Arrangement of Sections

1. Short title.

PART I
Amendment of Part VII of the Finance Act, No. 35 of 2018

2. Amendment of section 23 of Act, No. 35 of 2018.

PART II
Amendment of Part XI of the Finance Act, No. 35 of 2018

3. Amendment of section 40 of Act, No. 35 of 2018.

4. Amendment of section 41 of the principal enactment.

PART III
Amendment of Part XII of the Finance Act, No. 35 of 2018

5. Replacement of section 46 of Act, No. 35 of 2018.

6. Date of operation of this Part.

7. Imposition of a levy on foreign commercial transactions.

8. Exemption from the payment of the levy.

9. Default in payment of the levy.

10. Interpretation.

PART V
General

11. Regulations.

12. Sinhala text to prevail in case of inconsistency.

21 of 2019.

An Act to amend the Finance Act, No. 35 of 2018; to provide for the imposition of a foreign commercial transactions levy; and to provide for the matters connected therewith and incidental thereto.

[Date of Commencement: 1st November, 2019]

1. Short title.

This Act may be cited as the Finance Act.

part I
Amendment of Part VII of
the Finance Act, No. 35 of 2018

2. Amendment of section 23 of Act, No. 35 of 2018.

Section 23 of the Finance Act, No. 35 of 2018 is hereby amended by the substitution for the definition of the expression “specified motor vehicle” of the following definition—

“ “specified motor vehicle”—