61.
| (1) Where a non-resident person carries on the business of shipowner or charterer and any ship owned or chartered by him calls at a port in Ceylon, his full profits arising from the carriage of passengers, mails, livestock, or goods shipped in Ceylon shall be deemed to arise in Ceylon: |
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| (2) Where for any accounting period such person produces the certificate mentioned in subsection (3), the profits arising in Ceylon from his shipping business 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 shipped in Ceylon as the ratio for the said 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 be- half of any income tax authority which assesses the full profits of the non-resident person from his shipping business, 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 said 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 subsection (2) cannot for any reason be satisfactorily applied, the profits arising in Ceylon may be computed on a fair percentage of the full sum receivable on ac count of the carriage of passengers, mails, livestock, and goods shipped in Ceylon: |
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| (5) Where the Commissioner decides that the call of a ship belonging to a particular non-resident ship- owner or charterer at a port in Ceylon is casual and that further calls by that ship or others in the same ownership are improbable, the provisions of this section shall not apply to the profits of such ship and no income tax shall be chargeable thereon. |
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Sri Lanka Consolidated Acts