Article 30 - Termination - Sri Lanka (Old - Effective upto 31-3-2013)

Article 30 : Termination This Convention shall remain in force indefinitely but either Contracting State may, on or before June 30, in any calendar year beginning after the expiration of a period of five years from the date of its entry into force, give to the other Contracting State, through diplomatic channels, written notice of termination. In such event, the Convention shall cease to have effect- (a) in Sri Lanka- (i) in respect of income assessable for any year of assessment commencing on or after 1st April in the calendar year next following that in which such notice is given; (ii) in respect of capital assessable for any year of assessment commencing on or after 1st April in the calendar year next following that in which notice is given. (b) in India- (i) in respect of income assessable for the assessment year commencing on the 1st day of April in the second calendar year next following the calendar year in which the notice is given, and subsequent years; (ii) in respect of capital assessable for any year of assessment commencing on or after 1st April in the calendar year next following that in which such notice is given. IN WITNESS WHEREOF the undersigned, duly authorised thereto, have signed this Convention. Done in duplicate at New Delhi this 27th day of January, 1982, in the Sinhala, Hindi and English languages, all texts being equally authentic. In the case of divergence of interpretation the English text shall prevail. (Sd.) Pranab Mukherjee For the Government of the Republic of India. (Sd.) Ronnie De Mal For the Government of the Democratic Socialist Republic of Sri Lanka. PROTOCOL The Government of the Republic of India and the Government of the Democratic Socialist Republic of Sri Lanka, having entered into a Convention for the avoidance of double taxation and the prevention of a fiscal evasion with respect to taxes on income and on capital, have agreed, at the time of signing the said Convention, on the following provisions which shall constitute an integral part thereof: (a) The length of the period referred to in sub-paragraphs (h) and (i) of Article 5 shall be construed as identical to any period of longer duration incorporated in the Article on Permanent Establishment in relation to a building site, construction or assembly project or the furnishing of services, in any Convention for the avoidance of double taxation entered into by Sri Lanka after the signing of this Convention. (b) the basis of taxing shipping profits set out in paragraph 2 of Article 8 shall not be less favourable than that provided in any Convention for the avoidance of double taxation entered into by Sri Lanka after the signing of this Convention. IN WITNESS WHEREOF the undersigned, duly authorised thereto, have signed this Protocol. Done in duplicate at New Delhi this 27th day of January, 1982, in the Sinhala, Hindi and English languages, all texts being equally authentic. In the case of divergence of interpretation, the English text shall prevail. (Sd.) Pranab Mukherjee For the Government of the Republic of India. (Sd.) Ronnie De Mal For the Government of the Democratic Socialist Republic of Sri Lanka. [F. No. 501/1/77-FTD]