2. Replacement of section 2 of the Debits Tax Act.…
Feedback & supportOfficial English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.
Section 2 of the Debits Tax Act, No. 16 of 2002
(hereinafter referred to as the “principal enactment”) is hereby repealed and the following scction substituted therefor :—
“Imposition
2. Subject to the provisions of section 13, of debits tax.
there shall be charged and levied —
onthe total amount of the debits, made during each calendar month against each current account maintained at a commercial bank :
on the total amount of the debits, made during each calendar month against each savings account maintained at a commercial bank ora specialized bank;
and
on the amount realized on the encashment of a certificate of deposit or travelers cheque, a tax to be called the debits tax at the rate of one tenth of one percentium of the total debit or the amount encashed, as the case may be.”.