Finance Act (No. 65 of 1961)

Sri Lanka Consolidated Acts

Duty of proprietor of a business to register such business, and himself as proprietor thereof, in the register.[ 14, 3 of 1963

47*.

(1) Every person who carries on any business on and after the appointed date shall-

	(a) cause that business to be registered, and himself to be registered as the proprietor thereof, in the appropriate register of businesses kept and maintained by the appropriate competent authority for that purpose, and have such registration renewed; and

	(b) obtain a certificate of registration from such authority:

(2) For the purposes of this Part, " turnover" or " gross fees " with reference to a business shall-

	(a) for the purposes of the first period of registration in the register ending on September 15, 1963, be the gross income from that business for the period corresponding to the period for which the income on which the National Development Tax payable under section 50 (1) (a) in respect of that period of registration would be computed, and

	(b) in relation to the subsequent period of registration in the register ending on March 15, 1964, be the gross income for the period corresponding to the period for which the income on which the National Development Tax payable under section 50 (1) (b) in respect of that period of registration would be computed.

* This section shall cease to be in operation after 15th March, 1964-See section 14 (2) of the Finance (Amendment) Act, No. 3 of 1963.