View All - 2022 Acts Section No : Acts & Ordinances SOCIAL SECURITY CONTRIBUTION LEVY ACTMarginal Notes1. This Act may be cited as the Social Security Contribution Levy Act, No. 25 of 2022 and shall come into operation on the First day of October 2022.2. Persons to whom this Act applies3. Imposition of the Social Security Contribution Levy4. Taxable persons to be registered5. Cancellation of registration6. Liability not affected by cancellation of registration7. Registered taxable person to notify certain changes8. Returns and information to be furnished9. Power of Assistant Commissioner to make assessment10. Additional assessments11. Assistant Commissioner to state reasons12. Power of the Assistant Commissioner to determine the open market value13. Certain transactions and dispositions to be disregarded14. Evidence of returns and assessments15. Limitation of time for additional assessment16. Accounting basis17. Payment of the levy18. Penalty for default19. Collection of the levy by the Director-General of Customs20. Islamic financial transactions21. Appeals to the Commissioner-General22. Appeals to the Tax Appeals Commission23. Finality of assessment24. Recovery of levy25. Levy to be a first charge26. Notice to defaulter27. Recovery of levy by seizure and sale28. Proceedings for recovery before a Magistrate29. Recovery of levy out of debts30. Recovery of levy from persons leaving Sri Lanka31. Use of more than one means for the recovery of levy32. Recovery of levy from the principal officer and others33. Power of Commissioner-General to obtain information for the recovery of levy34. Time limit for the recovery of a levy in default35. Commissioner-General to delegate powers and functions36. Levy or penalty paid in excess to be treated as an advance payment37. Liability of executor to pay levy38. Liability of certain persons to pay levy in respect of a taxable activity not belonging to them39. Trustees and executors40. Persons liable to pay levy upon liquidation of a company or dissolution of a body of persons41. Who may act for incapacitated persons42. Precedent partner to act on behalf of partnership43. Principal officer to act on behalf of a company or body of persons44. Offences relating to breach of secrecy &c.45. Offences relating to fraud46. Offences relating to returns &c.47. Prosecution to be with the sanction of the Commissioner-General48. Compounding of offences49. Signature and service of notice50. Validity of assessments51. Power to search buildings or places52. Power to search where taxable activity is carried on or carried out53. Keeping of records54. The Administration of the Act55. Forms56. Use of electronic communications57. Commissioner General may pay rewards to informants58. Official secrecy59. Regulations 60. Interpretation61. Sinhala text to prevail in case of inconsistency