Turnover Tax (Amendment) Act (No. 8 of 1997)

Sri Lanka Consolidated Acts

Amendment of section 50 of the principal enactment

7. Section 50 of the principal enactment is hereby amended as follows :-

(1) in subsection (1) of that section -

	(a) by the substitution, for the words, "Every person who makes any payment in pursuance of a contract", of the words and figures, "Every person who, on or before the date on which the Goods and Services Tax Act, No. 34 of 1996 comes into operation, makes any payment in pursuance of a contract" ;

	(b) by the repeal of the proviso to that subsection and the substitution therefor, of the following proviso :-

(2) in subsection (4) of that section -

	(i) by the substitution, in paragraph (iv), for the words "not including a contract of employment; or", of the words "not including a contract of employment;" ;

	(ii) by the substitution, in paragraph (v), for the words "any contract for the supply of cinematograph films by a producer", of the words "any contract for the supply of cinematograph films by a producer ;or"; and

(iii) by the addition, at the end of that subsection, of the following paragraph :-

"(vi) any contract in respect of the letting, by any company, of any commercial premises.".