Sri Lanka Consolidated Acts

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Bank Debits Tax Act (No. 27 of 1970) - Sect 2

Charge of tax on debits again current accounts

2.
(1) Subject to the provisions of section 3, a tax on the total amount of the debits made during each calendar month against each current account shall be charged at the rate of one-tenth of one per centum of such amount or at such other rate as may from time to time be determined by resolution passed by the House of Representatives.
(2) A tax imposed by or under sub-section (1) is hereafter in this Act referred to as the tax.

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