AGREEMENT BETWEEN THE DEMOCRATIC SOCIALIST REPUBLIC OF SRI LANKA AND THE UNITED ARAB EMIRATES FOR THE AVOIDANCE OF DOUBLE TAXATION AND THE PREVENTION OF FISCAL EVASION WITH RESPECT TO TAXES ON INCOME

ARTICLE 1 - PERSONAL SCOPE

This Agreement shall apply to persons who are residents of one or both of the Contracting States.

ARTICLE 2 - TAXES COVERED

1. This Agreement shall apply to taxes on income imposed on behalf of a Contracting State, irrespective of the manner in which they are levied.

2. There shall be regarded as taxes on income all taxes imposed on total income or on elements of income, including taxes on gains from the alienation of movable or immovable property.

3. The existing taxes to which the Agreement shall apply are:

a. in Sri Lanka:

- the income tax, including the income tax based on the turnover of enterprises licensed by the Board of Investment,

(hereinafter referred to as "Sri Lanka tax");

b. in United Arab Emirates:

i. income tax; and

ii. corporation tax;

(hereinafter referred to as "U.A.E. tax").

4. The Agreement shall also apply to any identical or substantially similar taxes on income which are imposed after the date of signature of the Agreement in add...