60.
| (1) Where the assessable income for any year of assessment of an individual not resident in Ceylon consists solely of profits or income from services rendered in Ceylon or from business transacted in Ceylon and does not exceed one thousand rupees, such profits or income shall not be taxable. |
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| (2) Subject to the provisions of subsection (4), where a non-resident person receives any sum by way of dividend from a non-resident company or by way of interest, annuity, ground rent, or royalty which has been disallowed or excepted under the provisions of section 15 (1) (a) (ii) or section 52 (2), such sum shall not be regarded as income of such non-resident person arising in or derived from Ceylon, and he shall not be chargeable with income tax or entitled to any relief from Ceylon tax under sections 70 and 71 or to any repayment of tax in respect thereof. |
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| (3) Subject to the provisions of subsection (4), any sum received by a non-resident person as the profits or income of that person arising from any Treasury Bill issued under the Local Treasury Bills Ordinance shall be exempt from the tax. |
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| (4) The provisions of subsections (2) and (3) shall not operate so as to exclude any sum mentioned in either of those subsections from the computation of the profits of any trade or business carried on in Ceylon, where such sum forms part of the receipts of such trade or business. |
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Sri Lanka Consolidated Acts