84.
| (1) Where any person proves to the satisfaction of the Commissioner-General that, in respect of his wealth consisting of property in another country he has paid or is likely to pay for any year of assessment Sri Lanka wealth tax and wealth tax for the corresponding year of assessment in such other country being a country with which arrangements for granting relief from double taxation have not been made under section 82, then he shall be entitled to relief from the wealth tax payable by him in Sri Lanka in respect of such wealth, of an amount equal to the wealth tax payable in respect of such wealth in Sri Lanka or in such other country, whichever is lower. |
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| (2) For the purposes of subsection (1), the wealth tax payable by any person in Sri Lanka or in another country in respect of wealth consisting of property in such other country shall be computed at a rate equivalent of the quotient obtained by dividing the amount of the wealth tax payable in respect of all his taxable wealth by the value of all his taxable wealth. |
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Sri Lanka Consolidated Acts