Welcome to Scribd, the world's digital library. Read, publish, and share books and documents. See more
Download
Standard view
Full view
of .
Look up keyword
Like this
0Activity
0 of .
Results for:
No results containing your search query
P. 1
DTC agreement between Philippines and Sri Lanka

DTC agreement between Philippines and Sri Lanka

Ratings: (0)|Views: 5|Likes:
Published by eoiportal

More info:

Published by: eoiportal on Sep 23, 2013
Copyright:Attribution Non-commercial

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as PDF, TXT or read online from Scribd
See more
See less

09/23/2013

pdf

text

original

 
Title:
Convention between the Government of the Democratic Socialist Republicof Sri Lanka and the Government of the Republic of the Philippines for theAvoidance of Double Taxation and the Prevention of Fiscal Evasion with Respectto Taxes on Income
 Date of signature:
December 11, 2000, Manila.
Status:
Pending ratification.CONVENTIONBETWEENTHE GOVERNMENT OF THE DEMOCRATIC SOCIALISTREPUBLIC OF SRI LANKAANDTHE GOVERNMENT OF THE REPUBLIC OF THE PHILIPPINESFOR THE AVOIDANCE OF DOUBLE TAXATIONAND THE PREVENTION OF FISCAL EVASIONWITH RESPECT TO TAXES ON INCOME
The Government of the Democratic Socialist Republic of Sri Lanka and theGovernment of the Republic of the Philippines,Desiring to conclude a Convention for the avoidance of double taxation andthe prevention of fiscal evasion with respect to taxes on income,Have agreed as follows:
Article 1PERSONAL SCOPE
This Convention shall apply to persons who are residents of one or both of theContracting States.
 
Sri Lanka 
2
Article 2TAXES COVERED
1. This Convention shall apply to taxes on income imposed on behalf of eachContracting State, irrespective of the manner in which they are levied.2. There shall be regarded as taxes on income all taxes imposed on total income, or on elements of income, including taxes on gains from the alienation of movable or immovable property, and taxes on the total amounts of wages or salaries paid byenterprises.3. The existing taxes to which this Convention shall apply are:a) in Sri Lanka:the income tax, including the income tax based on the turnover of enterpriseslicensed by the Greater Colombo Economic Commission;
(hereinafter referred to as “Sri Lanka tax”).
  b) in the Philippines:the income taxes imposed by the Government of the Republic of thePhilippines,
(hereinafter referred to as “Philippine tax”).
 4. This Convention shall also apply to any identical or substantially similar taxeswhich are imposed after the date of signature of this Convention in addition to, or in place of, the existing taxes. The competent authorities of the Contracting Statesshall notify each other of any important changes which have been made in their respective taxation laws.
Article 3GENERAL DEFINITIONS
1. In this Convention, unless the context otherwise requires:a)
the term “Sri Lanka” means the Democratic Socialist Republic of Sri Lanka,
including any area outside the territorial sea of Sri Lanka which in accordancewith international law has been or may hereafter be designated, under the lawsof Sri Lanka concerning the Continental Shelf, as an area within which therights of Sri Lanka with respect to the waters, sea bed and subsoil and thenatural resources may be exercised; b)
the term “Philippines” means the Republic of the Philippines a
nd when used ina geographical sense means the national territory comprising the Republic of the Philippines;c)
the terms “a Contracting State” and “the other Contracting State” mean Sri
Lanka or the Philippines as the context requires;
 
Sri Lanka 
3
d)
the term “person” includes an individual, an estate, a trust, a company, and
any other body of persons;e)
the term “company” means any body corporate or any entity which is treated
as a body corporate for tax purposes;f)
the terms “enterprise of a Contracting State” and “enterprise of the other Contracting State” mean respectively an enterprise carried on by a resident of 
a Contracting State and an enterprise carried on by a resident of the other Contracting State;g)
the term “international traffic” means any transport by a ship or aircraft
operated by an enterprise of one of the Contracting States, except when theship or aircraft is operated solely between places in the other ContractingState;h)
the term “nationals” means:
(i) in the case of Sri Lanka, all individuals possessing the nationality of SriLanka;in the case of the Philippines, all individuals possessing the citizenship of the Philippines;(ii) all legal persons, partnerships and associations deriving their status as suchfrom the laws in force in a Contracting State;i)
the term “competent authority” means:
 (i) in the case of Sri Lanka, the Commissioner-General of Inland Revenue;(ii) in the case of the Philippines, the Secretary of Finance or his authorizedrepresentative.2. As regards the application of this Convention by a Contracting State any term notdefined therein shall, unless the context otherwise requires, have the meaningwhich it has under the laws of that Contracting State relating to the taxes whichare the subject of this Convention.
Article 4RESIDENT
1.
For the purposes of this Convention, the term “resident of a Contracting State”
means any person who, under the laws of that State, is liable to tax therein byreason of his domicile, residence, place of management or any other criterion of asimilar nature. But this term does not include any person who is liable to tax inthat State in respect only of income from sources in that State.2. Where by reason of the provisions of paragraph 1 any individual is a resident of  both Contracting States, then his status shall be determined as follows:

You're Reading a Free Preview

Download
scribd
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->