35. Rate of income tax on the gross interest on loans granted by a company, partnership or other body of persons outside Sri Lanka

The gross interest (not being interest exempt under any other provision of this Act), payable on a loan granted to any person in Sri Lanka by any company, partnership or other body of persons outside Sri Lanka, being interest which arises or is deemed, by section 88, to arise to such company, partnership or other body of persons shall notwithstanding anything in this Act, be chargeable with income tax at the rate of fifteen per centum.