Sri Lanka Consolidated Acts

[Index] [Table] [Database Search] [Name Search] [Previous] [Next] [Help]

Tea (Tax and Control of Export) Act (No. 16 of 1959) - Sect 2

Tax on tea which is sold at a Colombo tea auction and on tea exported from Ceylon and sold at a London tea auction

2. * Gazette No. 11,759 of 27th May, 1959.
(1) Where any tea-
(a) is sold at a Colombo tea auction, or
(b) is exported from Ceylon and sold at a London tea auction,
(2) For the purpose of expressing in terms of Ceylon currency the price at which a pound of tea exported from Ceylon for sale at a London tea auction was sold on any day at such an auction, the rate of exchange shall be the rate of exchange specified under section 17 of the Customs Ordinance and in force on that day.
(3) The deductions which, for the purposes of sub section (1), shall be made from the price at which a pound of tea exported from Ceylon for sale at a London tea auction is sold at such an auction shall be-
(a) the export duty and any cess paid in Ceylon on that pound of tea, and
(b) the amount fixed by the Minister by Order published in the Gazette in respect of a pound of tea exported from Ceylon for sale at a London tea auction, to cover the cost of freight, insurance and handling.

[Index] [Table] [Database Search] [Name Search] [Previous] [Next] [Help]