4. Commencement of liability to pay debits tax

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

The liability of a person to pay the debits tax shall—

(a)

in the case of a debit from a current account maintained at a commercial bank, commence at the end of the month in which the debit was made ;

(b)

in the case of an amount realized by the encashment of a certificate of deposit or travellers cheque, commence immediately upon such encashment.