Sri Lanka Consolidated Acts

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Inland Revenue Act (No. 10 of 2006) - Sect 93

Interest on certain loans deemed to be profits and income

93. Where interest is payable to a non-resident person on a loan obtained from such person and the interest on such loan is borne -
(a) directly or indirectly by a person resident in Sri Lanka; or
(b) by a non-resident person, where the amount of such loan or part thereof has been brought to or used in Sri Lanka,
such interest shall be deemed to be profits and income arising in or derived from Sri Lanka.

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