background image
Note: This Treaty may be impacted by the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS (MLI). MLI impact on Tax Treaties is available with the Orbitax International Tax Research & Compliance Expert.

ARTICLE 32

Termination

This Agreement shall remain in force until terminated by a Contracting State. Either Contracting State may terminate the Agreement, through diplomatic channels, by giving written notice of termination on or before the thirtieth day of June of any calendar year following after the period of five years from the year in which the Agreement enters into force. In such case, the Agreement shall cease to have effect:

  • (a) in respect of income derived on or after the date of commencement of the year of assessment next following that in which the notice of termination is given; and
  • (b) with regard to taxes withheld at source, in respect of amounts paid or credited on or after the date of commencement of the year of assessment next following that in which the notice of termination is given.

IN WITNESS WHEREOF, the undersigned duly authorized thereto here signed this Agreement.

DONE in duplicate in Dubai in the 24th day of September 2003, in the Sinhala, Arabic and English Languages, all texts being equally authentic. In the case of divergence of interpretation the English text shall prevail.

FOR THE GOVERNMENT OF THE DEMOCRATIC SOCIALIST REPUBLIC OF SRI LANKA:

K. N. CHOKSY

MINISTER OF FINANCE

FOR THE GOVERNMENT OF THE UNITED ARAB EMIRATES:

MOHAMED KHALFAN BIN KHIRBASH

MINISTER OF STATE FOR FINANCE AND INDUSTRY