Parliament of The Democratic Socialist Republic of Sri Lanka
Parliament of The Democratic Socialist Republic of Sri Lanka
SOCIALIST REPUBLIC OF
SRI LANKA
L.D.—O. 23/2013.
1. (1) This Act may be cited as the Land (Restrictions Short title and
on Alienation) Act, No. 38 of 2014. date of
operation.
(a) to a foreigner; or
3. (1) The provisions of section 2 shall not apply to— Exemption from
the application
of the provisions
(a) any land the title of which is transferred to a of section 2.
Diplomatic Mission of another State within the
4 Land (Restrictions on Alienation)
Act, No. 38 of 2014
Tax on the lands 6. (1) There shall be a Land Lease Tax payable up-front
leased out to
by the Lessee, for every lease of land, in terms of section
foreigners.
5(1), at the execution of the indenture of lease or prior to
such execution unless exempted under section 7.
(2) The rate of such Land Lease Tax shall be fifteen per
cent of the total rental payable for the entire duration of the
lease.
Exemption from 7. (1) The Land Lease Tax payable under section 6,
the Land Lease shall not be applicable on the lease of—
Tax.
(a) any land a Diplomatic Mission of another State
within the meaning of the Diplomatic Privileges
Act or to an International, Multilateral or Bilateral
Organization recognized in terms of that Act;
Land Lease Tax 10. The Land Lease Tax charged, levied or collected
to be credited to under section 9, by the Commissioner General of Inland
the Consolidated
Fund. Revenue shall be credited to the Consolidated Fund.
Land Reform 12. The provisions of the Land Reform Law, No. 1 of
Act to apply in 1972, on the maximum extent of land that can be owned by
respect of
any person, shall continue to apply in respect of any transfer
exempted
transfers and of title or lease of a land exempted from the application of
leases. the provisions of this Act.
Valuation. 13. (1) For the purposes of this Act, the land value—
14. (1) Where any person liable to pay the Land Lease Offences and
Tax under this Act, fails to pay such tax, as provided for in punishment.
this Act, shall be deemed to be a defaulter of tax under this
Act.
Regulations. 17. (1) The Minister may make regulations for the
matters required by this Act to be prescribed and for matters
in respect of which regulations are authorized to be made.
22. Where the amount of the Land Lease Tax charged Recovery of any
or collected by the Commissioner General of Inland Revenue difference
between the
under section 21, is less than the actual amount of the Land actual amount
Lease Tax payable by a Lessee under section 6, the and the amount
Commissioner General shall by notice in writing require paid as the Land
Lease Tax.
such Lessee, to pay not later than six months from the date
of the notice, the difference between the actual amount
payable as the Land Lease Tax and the sum already collected
or charged, to the Commissioner-General.
16 Land (Restrictions on Alienation)
Act, No. 38 of 2014
Refund of 23. (1) Where the amount of the Land Lease Tax charged
excess amount or collected by the Commissioner General of Inland Revenue
paid as Land
Lease Tax. under section 21, is in excess of the actual amount of the
Land Lease Tax payable by a Lessee under section 6, the
Commissioner General shall on a written application made
by the person who has paid the excess amount, refund the
excess amount so paid to that person.
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