Article 23 - Capital - Sri Lanka (Old - Effective upto 31-3-2013)

Article 23 : Capital 1. Capital represented by immovable property referred to in paragraph (2) of Article 6 may be taxed in the Contracting State in which such property is situated. 2. Capital represented by movable property forming part of the business property of a permanent establishment of an enterprise may be taxed in the Contracting State in which the permanent establishment is situated. 3. Notwithstanding the provisions of paragraph (2) of this Article, ships and aircraft operated in international traffic and movable property pertaining to the operation of such ships and aircraft, shall be taxable only in the Contracting State in which the place of effective management of the enterprise is situated. 4. All other elements of capital of a resident of a Contracting State shall be taxable only in that State.