Inland Revenue Act 2006 · As enacted · Chapter X · Companies
62. Income tax to which any non-resident company is liable
Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.
Official translationFrom Department of Government Printing, unchanged
The income tax to which a company which is not resident in Sri Lanka in any year of assessment, shall be liable for that year of assessment shall consist of–
a sum equal to the amount calculated at the rate specified in the Second Schedule to this Act ;
where there are remittances of such company in that year of assessment, a sum equal to ten per centum of the aggregate amount of such remittances by such company.
In subsection (1), “remittances” with reference to a non-resident company mean—
sums remitted or retained abroad out of the profits and income chargeable with income tax of the company and any sum received outside Sri Lanka by or on behalf of such company in relation to any trade, business, profession or vocation carried out in Sri Lanka by such company, the profits of which are chargeable with income tax in Sri Lanka, such sums not including any dividend paid by a resident company to such non resident company ;
such part of the proceeds of the sale abroad of products exported by that company as is retained abroad; and
in respect of any products exported by that company and not sold in a wholesale market or not sold at all, such part of the profits deemed under section 84 to be derived from Sri Lanka as is retained abroad.
Chapter XI
Special Cases a – Children
Chapter XII
Chapter XIII
Payment of Tax by Self-Assessment
Chapter XIV
Deduction of Income Tax from Remuneration of Employees by Employers
Chapter XV
Provisions Relating to the Payment of Income Tax by a Government Institution
Chapter XVI
Deductions from Interest Paid by Banks and Financial Institutions
Chapter XVII
Deduction of Income Tax from Specified Fees Paid by Specified Persons
Chapter XVIII
Chapter XIX
Chapter XX
Deduction of Income Tax from Any Annuity or Royalty Paid or Any Management Fee Paid or Similar Payment Made by Any Person or Partnership
Chapter XXI
Retention of Moneys in Certain Provident Funds
Chapter XXII
Assessments
Chapter XXIII
Appeals A-Appeals to the Commissioner-General
Chapter XXIV
Finality of Assessments and Penalty for Incorrect Returns
Chapter XXV
Tax in Default and Sums Added Thereto
Chapter XXVI
Recovery of Tax
Chapter XXVII
Miscellaneous
Chapter XXVIII
Repayment
Chapter XXIX
Penalties and Offences
Chapter XXX
Administration
Chapter XXXI
General
Chapter XXXII
Interpretation
Chapter XXXIII