පාර්ලිමේන්තු පනත · පනවන ලද පරිදි
Debits Tax (Amendment) Act 2003
ප්රතිචාර සහ සහායනිල ඉංග්රීසි පරිවර්තනය. එය සිංහල හෝ දෙමළ පාඨයට වඩා වෙනස් නම් බලපවත්වන පාඨය කුමක්දැයි පනතේම සඳහන් වේ.
Changes to the law on tax on debitsනිල පරිවර්තනය, ස්කෑන් කළ පිටපතකින් කියවන ලදීDepartment of Government Printing හි ස්කෑන් කළ PDF ගොනුවෙන්, OCR මගින් කියවන ලදී; දෝෂ තිබිය හැක
s 1Short title
This Act may be cited as the Debits Tax (Amendment)
Act, No. 5 of 2003.
s 2Replacement of section 2 of the Debits Tax Act. No. 16 of 2002
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(hereinafter referred to as the “principal enactment”) is hereby repealed and the following scction substituted therefor :—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.”.
s 3Amendment of section 3 of the principal enactment
Section 3 of the principal enactment is hereby amended by the insertion immediately after paragraph (a) of that section of the following new paragraph :—
“(aa) in the case. of a debit from a savings account maintained at a commercial bank or a specialised bank, be paid by the person or persons in whose name or names the account is maintained:”.
Section 4 of the principal enactment is hereby amended by the insertion immediately after paragraph (a) of that section of the following new paragraph :—
s 4
Amendment of section 4 of the principal enactment.
“(aa)
in the case of a debit from a savings account maintained at a commercial bank or a specialised bank, commence at the end of the month in which the debit was made:”.
s 5
Amendment of section 5 of the principal enactment.
Section 5 of the principal enactment is hereby amended by the substitution for the words “current account transactions” of the words “current account and savings account transactions”.
s 6Amendment of section 6 of the principal enactinent,
Scction 6 of the principal enactment is hereby amended as follows :—
by the substitution for all the words from “Every commercial bank” to “last working day of cach month” of the following :-—
“(1) Every commercial bank or specialised bank shall, on the last working day of cach month.
withdraw from every current or savings account maintained at that bank, a sum equal to the amount payable as debits tax from that account in respect of that month, and shall remit such sum to the
Commissioner-Gencral on or before the last working day of cach succeeding month.”:
in the first proviso to subsection (1) by the substitution for the words “if the beginning of any month falls” of the words “if the last day of any mont falls”;
by the repeal of the second proviso to section (1)
and the substitution therefor of the following proviso :—
Provided further that, debits tax should not be withdrawn from a current account or a savings account if the tax liability of such current account or savings account during a particular month is less than rupees twenty.”
in subsection (3) of that section, by the substitution for the words “name or names the current account is being maintained at the commercial bank” of the words “name or names the current account or savings account is being maintained at the commercial bank or specialised bank”;
in subsection (4) of that section —
by the substitution for the words “Where owing to there being no funds in a current account or there being an insufficiency of funds in a current account, the commercial bank” of the words “Where owing to there being no funds in a current account or savings account or there being an insufficiency of funds in acurrent account or savings account, the commercial bank or specialised bank”:
and by the substituGion for the words “in the preceding month” wherever those words appear in that subsection of the words “in respect of that month”;
in the proviso to subsection (4), by the substitution for the words “commercial bank may differ” of the words “commercial bank or specialised bank may defer”; and in subsection (5) of that section—
by the substitution for the words “be dcemed to authorize a commercial bank to refuse to pay out of the funds in any current account”
of the words “be deemed to authorize a commercial bank or specialised bank to refuse to pay out of the funds in any current account or savings account”: and
by the substitution for all the words from “on the debits made from that account, has to be paid:” to the end of that subsection of the words “on the debits made from that account.
has to be paid.”.
s 7Amendment of section 7 of the principal
Scction 7 of the principal enactment is hereby amended by the substitution for the words “Where the holder of'a current account” of the words “Where the holder of a current account or savings account”.
s 8enactment. Amendment of section 8 of the principal enactment
Section 8 of the principal enactment is hereby amended by the substitution in paragraph (a) of subsection (2) of that section, for the words “from a current account” of the words
“from a current account or savings account”.
s 9Amendment of section 9 of the principal enactment
Section 9 of the principal enactment is hereby amended as follows :—
in subsection (1) —
by the substitution for all the words from “A commercial bank shall.” to “current account setting out the following :—” of the words "A commercial bank or specialised bank shall, when remitting the sums referred to in subsection (1) of section 6, furnish a statement to the Commissioncr-General in respect of any current account or savings account maintained on behalf of a customer, other than a special current account, setting oul the following :~
by the substitution for paragraph (a) of that subsection of the following paragraph :—
“(a) the total amount of debits made from all current accounts and savings accounts maintained by that bank in respect of that month;”;
Dehits Tax (Amendment) Act, No. 5 of 2003 5
by the omission of paragraph () of that subsection ;
in the paragraph (c) of that subsection by the
Substitution for the words “from all current accounts” of the words “from all current accounts and savings accounts”:
in paragraph (¢) of that subsection by the substitution for the words “in cach current account” and “relevant current account” of the words “in each current. account and savings account” and “relevant current account and
Savings account”, respectively ;
by the insertion immediately alter subsection (1) of that section of the following new subsections :-—
“(1A) A commercial bank shall, when remitting the sums referred to in subsection (1) of section 6, furnish a statement to the Commissioner-General in respect of any special current account setting out the total amount of debits from all special current accounts maintained by that bank in respect of that month.
A commercial bank or specialised bank shall, at the end of cach month, furnish a statement to the Commissioner-General setting out the following details in respect of its own transactions :—
the total value of the debits in respect of debits tax liable transactions in a particular month;
the sums withdrawn as debits tax for a particular month:
the total value of debits tax exempt transactions for a particular month.”.
s 10Amendment of section 10 of the principal enactment,
Section 10 of the principal enactment is hereby amended as follows :—
in subsection (1)
of that section, by the substitution for the words “Where a commercial bank reports”
and “from a current account maintained” of the words “Where a commercial bank or specialised bank reports” and “from a current account or savings account maintained”.
in subsection (2) of that’section by the substtuuion for paragraph (a) of the-lollowing paragraph :—
the total amount of the debits made from a current account or a savings account maintained at that commercial bank or specialised bank, inany month; or”.
Amendment of section 13 of the principal enactment.
It.
Sction 13 of the principal enactment Is hereby amended as follows .:—
in subsection (1) of that section —
in paragraph (a) thereof, by the substitution for the words “any current account maintained” of the words “any current account or savings account maintained”;
in paragraph (4) thereol, by the substituGion forall the words from “debits made from any”
to “is solely for the purpose of making— of the words “debits made from any current account being a special account, opened by any person in a commercial bank for the purpose of making —
in paragraph (¢) thereol!—
by the substitution for all the words from
“debits made from any” to “is solely for the purpose of making—” of the words
Debits Tax (Amendinent) Act, No. 3 of 2003 7
“debits made from any current account being a special account opened by any person specified hereunder ina commercial bank for the purpose of making—" :
by the substitution for sub-paragraph (111)
of the. following new sub-paragraphs :—
“(ii) | payments in relation to the purchase of stock issued in terms of the
Registered Stocks and Securities
Ordinance (Chapter 420) made by any person or body of persons, at the issue of such registered stock ;
(iii@) payments in relation to the purchase of securities issued in terms of the
Registered Stocks and Securities
Ordininee (Chapter 420) and treasury bills issued in terms of the
Local Treasury Bills Ordinance
(Chapter 417). by any person or body of persons, at the issue of such securitics or bills :
in sub-paragraph (vii) thereol—
by the substitution for the words
“by another commercial bank” of the words “by such bank, another commercial bank”:
by the substitution for the words “or other financial intermediary” of the words “or any other entity cngaged in financial intermediation activity”:
in sub-paragraph (vii) (¢) thereol by the substitution for the words
“financial intermediaries” or
“financial intermediary” wherever it appears. of the words “any other entity engaged in financial intermediation activity”;
by the addition immediately after sub-paragraph (viii) of paragraph (c) of that subsection of the following proviso :—
“Provided that)
the exempt transactions referred to in paragraphs (4) and (c) of subsection (1) shall be routed through a single special current account, A separate declaration shall be made for each exempt activity and a single undertaking shall be provided to the effect that such account shall be used only for debit tax exempt activilies.”:
in paragraph (¢) thereol—
by the substitution for the words “from any current account” of the words “from any current account or savings account”:
by the substitution for sub-paragraph (i)
thereof of the following :—
“(i) debits made from such account kept in'a commercial bank or specialised bank that represent transfer of funds in the name of the same account holder from one current account to another, or from a current account
Debits Tax (Amendment) Act, No. 5 of 2003
y lo a savings account, or from a savings account lo a current account, or from one savings account to another, within the same commercial bank or specialised bank or between different commercial banks or specialised banks”;
in subsection (2) of that section—
by the substitution for the words “commercial bank” and “any current account” of the words
“commercial bank or specialised bank” and
“any current account or savings account”; and
by the addition immediately alter the first proviso to that subsection of the following :—
“Provided further, that in cases where banks are able to identify the exempt debits specified in sub-paragraphs (i). (ii) and (iii) of paragraph (d) of subsection (1), the bank may exempt the debit without a declaration from the account holder as is required above and refrain from collecting debits tax on the same. No bank shall be indemnified against any error made by the granting of any such exemption.
Any bank who so makes an error in the sranting of an exemption shall be liable to a penalty of rupees ten thousand in respect of each such exemption wrongfully granted.”.
in subsection (5) of that section by the substitution for the words “current account” of the words “current account or Savings account”.
Insertion of new
s 12
The following new section is hereby inserted section I4ainthe immediately after section 14 of-the principal enactment and principal
.
ave offoet ae cart th:
sciment enactment.
shall have effect as section 14a of that enactment :—
“Commissioner — 144. The Commissioner-General may or Deputy anterae 2
C
Feonee or any
DEnuty
Commissioner Uthorize any Commissioner or any
Deputy to exercise and Commissioner appointed in terms of the perform provisions of the Inland Revenue Act, No. 38
powers &€.
9 F000, to exercise, perform and discharge any power, duty or function which is conferred or imposed on, or assigned to, the Commissioner-General. by or under the provisions of this Act.”.
Amendment of
s 13Section 15 of the principal enactment is hereby section 15
of the amended by the substitution for the marginal note to that principal yan ik
I fe 1]
7
.
enactment.
section of the following :—
“Offences.”.
Amendment of
s 14Section 19 of the principal enactment is hereby section 19 of the amended as follows :—
principal enaciment.
by the substitution in the definition of the expression
“debit” for the words “current account” wherever such words appear in that definition, of the words
“current account or savings account” and for the words “commercial bank” of the words “commercial bank or specialised bank”: and
by the substitution for the definition of the expression
“savings account” of the following definition :—
“savings account” means any account (other than a foreign currency account or a fixed or term deposit account) which is maintained ata licensed commercial bank or a licensed specialised bank, and which qualifies for interest, irrespective of whether such interest is paid or not.”.
Debits Tax (Amendment) Act, No. S of 2003 1
1S.
Retrospective effect
The amendments made to the principal enactment by the provisions of this Act shall be deemed for all purposes to have come into effect on January 1, 2003,
Any licensed commercial bank or licensed specialised bank, which collects or remits debits tax from any savings account as provided for in section 6, during the period commencing on January 1, 2003 and the date of the coming into operation of this Act, shall be deemed to have acted with due authority and is hereby indemnified from any civil or criminal prosecution in respect of such collection.
Any licensed commercial bank or licensed specialised bank, which collects from any person debits tax in excess of the amount he was liable to pay in respect of debits from a savings acount maintained by him at any licensed commercial bank or licensed specialised bank. or which collects from any person debits tax on any such debits made from a savings account maintained by him ina bank as are exempt from debits tax by or under section 13. is hereby indemnified against civil or criminal prosecution in respect of such collection from and after the period commencing January |, 2003 and the date on which a refund of such amount ts made or the date on which such amount is remitted to the Commissioner-General, as the case may be.’.
s 17Sinhala text to prevail in case of inconsistency
Inthe event of any inconsistency between the Sinhala and Tamil texts of the Act the Sinhala text shall prevail.