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HMRC internal manual

Double Taxation Relief Manual

HM Revenue & Customs
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DT: Sri Lanka: double taxation agreement, Article 8: Shipping and air transport

(1) A resident of one of the Contracting States shall be exempt from tax in the other Contracting State on profits from the operation of ships or aircraft in international traffic.
(2) The provisions of paragraph (1) of this Article shall likewise apply to profits derived from participation in a pool, a joint business or an international operating agency.