11. The following new section is hereby inserted immediately after section 32c of the principal enactment and shall have effect as section 32cc of that enactment:
| 32cc. The gross royalty payable for any year of assessment commencing on or after April 1, 1993 by any person in Sri Lanka to any company, partnership or body of persons outside Sri Lanka, being royalty which arises or is deemed by section 80B to arise in Sri Lanka to, such company, partnership or body of persons shall, notwithstanding anything to the contrary in any other provision of this Act, be chargeable with income tax at the rate of fifteen per centum.". |
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Sri Lanka Consolidated Acts