Article 2 - Taxes covered - Sri Lanka (Old - Effective upto 31-3-2013)

Article 2 : Taxes covered 1. This Convention shall apply to taxes on income and on capital imposed on behalf of each ContractingState irrespective of the manner in which they are levied. 2. There shall be regarded as taxes on income and on capital all taxes imposed on total income, on total capital, or on elements of income or of capital including taxes on gains from the alienation of movable or immovable property, as well as taxes on capital appreciation. 3. The existing taxes to which this Convention shall apply are- (a) in Sri Lanka: (i) the income-tax, including the income-tax based on the turn-over of enterprises licensed by the Greater Colombo Economic Commission; and (ii) the wealth-tax; (hereinafter referred to as Sri Lanka tax. ) (b) in India: (i) the income-tax including any surcharge thereon; (ii) the surtax; and (iii) the wealth-tax. (hereinafter referred to as Indian tax. ) 4. This Convention shall also apply to any identical or substantially similar taxes which 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 States shall notify each other of any important changes which have been made in their respective taxation laws.