80.
| (1) Where the assessable income for any year of assessment of an individual deemed to be non-resident under subsection (7) of section 73. consists solely of income from services rendered in Sri Lanka and does not exceed one hundred and forty four thousand rupees such income shall not be taxable. |
|
| (2) Subject to the provisions of subsection (4), where a non-resident person receives any sum by way of dividend from a non-resident company or by way of interest, annuity, ground rent, or royalty which has been disallowed or excepted under the proviso to paragraph (a) of subsection (2) of section 29 or under subsection (2) of section 71. such sum shall not be regarded as income of such non-resident person arising in or derived from Sri Lanka, and he shall not be chargeable with income tax or entitled to any repayment of tax in respect thereof. |
|
| (3) Nothing in the provisions of subsections (2) shall operate so as to exclude any sum mentioned in that subsection from She computation of the profits of any trade or business earned on in Sri Lanka where such sum forms part of the receipts of such trade or business. |
|
| (4) Notwithstanding anything in any other provisions Of this Act the rate at which income tax is payable by a non resident person in respect of any royalty received by him from a company with which an agreement has been entered into by the Board of Investment, of Sri Lanka under section 17 of the Board of Investment of Sri Lanka Law. No. 4 of 1978 shall not exceed the rate, if any. specified in that agreement as the rate at which income tax is deductible from that royalty. |
|
|
Sri Lanka Consolidated Acts