77.
| (1) Where a non-resident person carries on the business as owner or charterer of aircraft and any aircraft owned or chartered by him calls at any customs aerodrome in Sri Lanka, his full profits arising from the carriage of passengers, mails, livestock, or goods loaded into that air- craft in Sri Lanka shall be deemed to arise in Sri Lanka : |
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| (2) Where for any accounting period any non-resident person carrying on business as owner or charterer of an aircraft produces the certificate referred to in subsection (3) the profits arising in Sri Lanka from his business of carriage of passengers, mails, livestock or goods by aircraft for such period, before deducting any allowance for depreciation,. shall be a sum bearing the same ratio to the sums receivable in respect of the carriage of passengers, mails, livestock and goods loaded into an aircraft in Sri Lanka as the ratio for that period shown by that certificate of the total profits to the total sums receivable by him in respect of the carriage of passengers, mails, livestock and goods: |
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| (3) The certificate shall be one issued by or on behalf of any income tax authority which assesses the full profits of the non-resident person from his business as owner or charterer of aircraft, and shall certify for any accounting period as regards such business -
| | (a) the ratio of the profits, or where there are no profits, of the loss as computed for the purposes of income tax by that authority, without making any allowance by way of depreciation, to the total sums receivable in respect of the carriage of passengers. mails, livestock, or goods ; and | | |
| | (b) the ratio of the allowance for depreciation as computed by that authority to the total sums receivable in respect of the carriage of passengers, mails. livestock, and goods. | | |
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| (4) Where at the time of assessment the provisions of sub section (2) cannot for any reason be satisfactorily applied the profits arising in Sri Lanka may be computed on a fair percentage of the full sum receivable on account of the carriage of passengers, mails, livestock and goods loaded into an aircraft in Sri Lanka: |
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Sri Lanka Consolidated Acts