Tax Co-ordination

CEAT Kelani Holdings Managing Director Ravi Dadlani (right) and Lanka Ashok Leyland CEO Umesh Gautham exchange the OEM agreement

July 12, 2012 (LBO) – Sri Lanka and India will sign an agreement to prevent double taxation and tax avoidance, minister Keheliya Rambukwelle said. Agreements signed between Sri Lanka and other countries provide reduced tax rates on dividends, interest and royalties. Sri Lanka’s cabinet had approved changes to an earlier draft following bilateral negotiations conducted with Indian authorities in Colombo.

Sri Lanka has double taxation avoidance agreements (DTAA) with 36 countries including India.

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