Sri Lanka Consolidated Acts Sri Lanka Consolidated ActsProfits of non-resident persons from sale of exported produce
| 71. Where a non-resident person carries on in Sri Lanka any agricultural, manufacturing, or other productive undertaking, and sells any product of such undertaking outside Sri Lanka or for delivery outside Sri Lanka, whether the contract is made within or without Sri Lanka, the full profit arising from the sale in a wholesale market shall be deemed to be income arising in or derived from Sri Lanka within the meaning of section 2. Provided that, if it is shown that the profit has been increased through treatment other than handling, blending, sorting, packing, and disposal, of the product outside Sri Lanka, such increase of profit shall not be deemed to be income arising in or derived from Sri Lanka. Where any such product is not sold in a wholesale market, or is not sold at all, such person shall be deemed to derive profits from Sri Lanka within the meaning of section 2 and such profits shall be deemed to be not less than the profits which might have been obtained if such person had sold such product wholesale to the best advantage. |