ACT, No. 14 OF 2011

14of2011.pdf
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PARLIAMENT OF THE DEMOCRATIC
SOCIALIST REPUBLIC OF
SRI LANKA
DEBITS TAX (REPEAL)
ACT, No. 14 OF 2011
[Certified on 31st March, 2011]
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 01, 2011
PRINTEDAT THE DEPARTMENTOFGOVERNMENT PRINTING, SRILANKA
TO BEPURCHASED AT THEGOVERNMENT PUBLICATIONSBUREAU, COLOMBO 5
Price : Rs. 2.00 Postage : Rs. 5.00

Debits Tax (Repeal) Act, No. 14 of 2011 1
[Certified on 31st March, 2011]
L.D.—O. 18/2011.
ANACT TO PROVIDE FOR THE REPEAL OF 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 (Repeal) Short title.
Act, No. 14 of 2011.
2. (1) The Debits Tax Act, No. 16 of 2002 is hereby Repeal and
deemed to be repealed with effect from March 31, 2011. savings.
(2) The provisions of this Act shall, notwithstanding such
repeal, in respect of the matters set out in subsection (3), be in
force for a period of three years from the date of the coming
into operation of this Act.
(3) Notwithstanding the repeal of the Debits Tax Act,
No. 16 of 2002 with effect from March 31, 2011:—
(a) the debits tax imposed under section 2 of the
repealed Act, with effect from April 1, 2011, to the
day immediately preceding the day on which the
operation of the period of three years as specified in
subsection (2) expires, be collected by every
licensed commercial bank or specialised bank or
every financial institution in terms of section 5 of
the repealed Act and all sums so recovered by every
such bank and financial institution as debits tax
shall be remitted to the Commissioner-General in
terms of section 6 of the repealed Act ; and
(b) any action, proceeding or matter filed under the
provisions of the Debits Tax Act, No. 16 of 2002
prior to its repeal, shall notwithstanding such repeal,
with effect from April 1, 2011, be continued until
they are concluded :
2—PL 005611 -4,090 (03/2011)
2 Debits Tax (Repeal) Act, No. 14 of 2011
Provided that, the period of three years specified
in subsection (2) of section 2 shall not apply in
respect of any action, proceeding or matter filed
under the repealed Act, which has not as at the end
of such period of three years, been concluded.
In case of 3. In the event of any inconsistency between the Sinhala
inconsistency and Tamil texts of this Act, the Sinhala text shall prevail.
the Sinhala text
to prevail.

Debits Tax (Repeal) Act, No. 14 of 2011 3
Annual subscription of English Bills and Acts of the Parliament Rs. 885 (Local), Rs. 1,180
(Foreign), Payable to the SUPERINTENDENT, GOVERNMENT PUBLICATIONS BUREAU, DEPARTMENT OF
GOVERNMENT INFORMATION, NO. 163, KIRULAPONA MAWATHA, POLHENGODA, COLOMBO 05 before 15th
December each year in respect of the year following.
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