Sri Lanka Consolidated Acts

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Industrial Development Act (No. 36 of 1969) - Sect 9

Mode of payment of fees and taxes to the Fund, referred to in section 7

9.
(1) Where the Minister, with the concurrence of the Minister of Finance, specifies, for the purposes of section 7, any description of goods for the importation of which a licence fee is payable under regulations made under the Imports and Exports (Control) Act, the Controller of Imports and Exports shall credit the proceeds of the import control fees collected in respect of such goods to the Fund.
(2) Where the Minister, with the concurrence of the Minister of Finance, specifies, for the purposes of section 7, any class or description of business, the business turnover tax collected in respect of such class or description of business by the Commissioner of Inland Revenue shall be credited to the Fund.
(3) In this section-
(4) Regulations may be made in regard to al! matters necessary for the effective collection and crediting to the Fund of the fees and taxes referred to in section 7.


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