AGREEMENT BETWEEN THE GOVERNMENT OF THE RUSSIAN FEDERATION AND GOVERNMENT OF THE DEMOCRATIC SOCIALIST REPUBLIC OF SRI LANKA

of March 2, 1999

About avoidance of double taxation and prevention of evasion from the taxation concerning taxes on the income

The government of the Russian Federation and the Government of the Democratic Socialist Republic of Sri Lanka, wishing to sign the Agreement on avoidance of double taxation and prevention of evasion from the taxation concerning taxes on the income,

agreed as follows:

Article 1. Persons to whom the Agreement is applied

This agreement is applied to persons who are residents of one or both Contracting States.

Article 2. Taxes to which the Agreement extends

1. This agreement is applied to the taxes on the income levied in the Contracting State irrespective of method of their collection.

2. All taxes levied from the total amount of the income or from separate elements of the income including taxes on the income from alienation of personal and real estate are considered as taxes on the income.

3. Taxes to which this agreement is applied, in particular, are:

a) in the Russian Federation:

(i) income tax (income) of the companies and organizations;

(ii) the income tax from physical persons

(further referred to as "the Russian tax");

b) in Sri Lanka:

the income tax, including the income tax calculated on the basis of goods turnover of the companies having the license of Committee on investments

(further referred to as "tax of Sri Lanka").

4. This agreement is applied also to any to similar or in essence to the similar taxes on the income levied after signature date of this agreement in amendment or instead of the existing taxes mentioned in Item 3. Competent authorities of Contracting States will notify each other on any essential changes in their relevant tax laws.

Article 3. General determinations

1. For the purposes of this agreement if other does not follow from context:

a) the terms "one Contracting State" and "other Contracting State" mean the Russian Federation or Sri Lanka depending on context;

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