25. The following new section is hereby inserted immediately after section 84 of the principal enactment and shall have effect as section 84A of that enactment: "
| 84A.
| | (1) Where any person or any partner of any partnership, referred to in subsection (2) proves to the satisfaction of the Commissioner-General that in respect of his income referred to in subsection (2), he has paid or is likely to pay for any year of assessment commencing on or after April 1, 1991, income tax in Sri Lanka and income tax for the corresponding period in any other country, then, such person shall be entitled to relief from income tax payable by him in Sri Lanka of an amount equal to the excess, if any, of the income tax, in respect of such income, payable by him in Sri Lanka (before granting any relief under this section), over the income tax, in respect of such income, payable by him in such other country. | | |
| | (2) The provisions of subsection (1) shall apply"
| | | (a) to any non-resident person, or, to any partner of any partnership registered outside Sri Lanka, being a person or partnership who or which provides, in Sri Lanka, management consultancy services in areas specified by the Commissioner-General, by notice published in the Gazette: and |
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| | (3) For the purposes of subsection (1), the income tax in Sri Lanka or in any other country, payable by any person or by any partner of any partnership, referred to in subsection (2), in respect of his profits and income referred to in subsection (2), shall be computed at the rate equivalent to the; quotient obtained by dividing the income tax payable by such person or such partner, (before granting any relief under this section) in Sri Lanka, or in such other country, as the case may be, in respect of his taxable income ascertained for the purposes of income tax in Sri Lanka, or, in such other country, as the case may be, by his taxable income ascertained for the purposes of income tax in Sri Lanka, or, in such other country, as the case may be.". | | |
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Sri Lanka Consolidated Acts