ACT, No. 12 OF 2007

12of2007.pdf
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PARLIAMENT OF THE DEMOCRATIC
SOCIALIST REPUBLIC OF
SRI LANKA
DEBITS TAX (AMENDMENT)
ACT, No. 12 OF 2007
[Certified on 11th April, 2007]
Printed on the Order of Government
Published as a Supplement to Part II of the Gazette of the Democratic
Socialist Republic of Sri Lanka of April 12, 2007
PRINTEDAT THE DEPARTMENTOFGOVERNMENT PRINTING, SRILANKA
TO BEPURCHASED AT THEGOVERNMENTPUBLICATIONSBUREAU, COLOMBO1
Price : Rs. 4.25 Postage : Rs. 5.00

Debits Tax (Amendment) Act, No. 12 of 2007 1
[Certified on 11th April, 2007]
L.D.—O. 5/2007
AN ACT TO AMEND THE DEBITS TAX ACT, NO. 16 OF 2002
BE it enacted by the Parliament of the Democratic Socialist
Republic of Sri Lanka as follows :—
1. This Act may be cited as the Debits Tax (Amendment) Short title.
Act, No. 12 of 2007.
2. The Debits Tax Act, No. 16 of 2002 (hereinafter referred General
to as “the principal enactment”) is hereby amended by the amendment to
the Debits Tax
substitution for the words “commercial bank or a specialized
Act, No. 16 of
bank” wherever such words appear in that Act, other than in 2002.
section 5, subsection (2) of section 6, subsection (2) of section
9, subsection (2) of section 10, subsections (1) and (2) of
section 14, subsection (1) of section 15 and subsection (2) of
section 18 thereof, of the words “commercial bank,
specialized bank or a finance company”.
3. Section 2, section 3, section 4, subsection(1A) of Amendment of
sections 2, 3 and
section 9, paragraphs (b), (c) and (e) of subsection (1) of
4 of the
section 13 and subsection (4) of section 13 of the principal principal
enactment are hereby amended in paragraph (a) of each of enactment.
those sections, by the substitution for the words “commercial
bank” of the words “commercial bank or specialized bank”.
4. Section 19 of the principal enactment is hereby Amendment of
amended as follows :— section 19 of the
principal
enactment.
(1) in the definition of the expression “current account”,
by the substitution for the words “a resident foreign
currency account, an account in a foreign currency
banking unit and a share investment external rupee
account” of the words “a Resident Foreign Currency
Account, an account in a Foreign Currency Banking
Unit, a Share lnvestment External Rupee Account
and a Treasury Bond Investment External Rupee
Account”; and
2 Debits Tax (Amendment) Act, No. 12 of 2007
(2) in the definition of the expression “savings account”,
by the substitution for the words “which is
maintained at a licensed commercial bank or a
licensed specialized bank” of the words “which is
maintained at a licensed commercial bank, a licensed
specialized bank or a finance company”.
Sinhala text to 5. In the case of any inconsistency between the Sinhala
prevail in case and Tamil texts of this Act, the Sinhala text shall prevail.
of inconsistency.

Annual subscription of English Bills and Acts of the Parliament Rs. 885 (Local), Rs. 1,180
(Foreign), Payable to the SUPERINTENDENT, GOVERNMENT PUBLICATIONS BUREAU, NO. 32,
TRANSWORKS HOUSE, LOTUS ROAD, COLOMBO 01 before 15th December each year in respect
of the year following.
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