12. “Refunds

Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.

(1)

Refunds may be made in respect of debits tax payments made in excess of the liable amount or tax payments made on exempt accounts, to the person from whom such amount is so deducted, as follows :—

(i)

in the case of a refund being requested by the account holder prior to the remittance of the debits tax payment to the Commissioner - General, the commercial bank, specialised bank, finance company or authorised dealer may refund the excess debits tax so deducted ;

(ii)

in the case of a refund being requested by the account holder after the remittance of the debits tax payment to the Commissioner-General, the Commissioner-General may refund the debits tax so paid to the person from whom such amount is so deducted on a claim made in writing to the Commissioner -

Gebneral within twelve months from the date of such payment. The Commissioner-General shall satisfy himself of the authenticity of the claim, prior to making such refund.

(2)

In the case of a refund made under the provisions of paragraph (i) of subsection (1) on the basis of a declaration referred to in subsection (2) of section 13, the bank to which the declaration is addressed shall verifty the amount of debits identified as exempt by the account holder with the bank’s records and refund the debits tax on such exempt debits, provided such debits tax was withdrawn from the account holder previously.

(3)

All sums payable as refunds under this section shall either be paid by the commercial bank, specialised bank, finance company or authorised dealer out of the funds of such banks, company or dealer, or by the Commissioner-General out of the Consolidated Fund, as the case may be.

Read on from s 13