5. Section 159 of the principal enactment (as last amended by Act No. 26 of 1978) is hereby further amended in sub-section (1) of that section by the substitution, for the definition of "turnover ", of the following new definition:"turnover ", in relation to any business, means the 'total amount' received or receivable from transactions entered into in respect of that business or for services performed in carrying on that business and includes-
| (a) in the case of a bank, the receipts of such bank by way of or on account of interest, discounts, dividends, exchange, service charges, commissions, brokerage and any other income derived by such bank in the course of its business or otherwise but shall not include receipts attributable to the operation of the foreign currency banking unit of such bank. |
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| (b) in the case of a financier, money-lender or pawnbroker, the moneys given out by him as loans, the interest received or receivable by him on such loans and the sums received by him as fees or other charges in respect of such loans; |
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| (c) in the case of an auctioneer and, subject to the provisions of paragraph (d), in the case of a broker or a commission agent-
| | (i) in respect of lands sold by him or in the sale of which he is instrumental, the commissions or fees received or receivable by him or for any transactions effected, or services rendered, by him in connection with such sale, | | |
| | (ii) in respect of any goods sold by him or in the sale of which he is instrumental, the total amount paid or payable by the purchaser of such goods; | | |
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| (d) in the case of any broker (other than a share broker or a produce broker), or commission agent, who-
| | (i) on behalf of a non-resident person, sells or is instrumental in selling any goods of that non-resident person, or | | |
| | (ii) acts on behalf of an exporter of any goods manufactured in Sri Lanka, or | | |
| | (iii) on behalf of any other person carrying on a business in Sri Lanka, is instrumental in selling in Sri Lanka any goods of that other person, being goods the total proceeds of the sale of which is included in the turnover of the business of that other person, whether or not such business is a " business" within the meaning of that expression in subsection (3) of section 120, | | |
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| (e) in the case of a person carrying on any educational establishment or school, the total amount, excluding profits from investment of the moneys of the educational establishment or school, received or receivable by him in carrying on such educational establishment or school, |
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Sri Lanka Consolidated Acts