| (1) For the purposes of this Act" 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
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| (a) in the case of a financier, moneylender or pawnbroker, the interest received or receivable by him on loans and the slums received by him as fees or other charges in respect of such loans; | | |
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| (b) in the case of a person carrying on any educational establishment or school, the total amount received .or receivable by him in carrying on such educational establishment or school; | | |
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| (c) in the case of a person carrying on a business of insurance, the total amount excluding premia received or receivable in respect of life insurance; | | |
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| (d) in the case of an importer of articles manufactured outside Sri Lanka
| | | (1) when such articles were imported the aggregate of
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| (2) if such articles are sold the amount received or receivable; |
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| (e) in the case of a manufacturer where the sale is to another manufacturer for the purpose of manufacture of another article, the amount received or receivable in respect of any transaction before adding any amount due as turnover tax in respect of that transaction; | | |
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| (f) 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; In this paragraph" foreign currency banking unit" means a unit or department of a commercial bank authorized by the Central Bank of Ceylon to operate as a foreign currency banking unit. | | |
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| (g) in the case of a person who renders services outside Sri Lanka the amount received or receivable from Sri Lanka in respect of such services. | | |
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Sri Lanka Consolidated Acts