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Income tax - Royalty Income
asked
Apr 18, 2019
in
Corporate Income Tax
by
Ramitha
Is Royalty income received in foreign currency liable for income tax. If so what is the applicable rate ?
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answered
Apr 18, 2019
by
Sujeewa
Best answer
Yes it is taxable. There was an exemption for this in the previous Act but there is nothing like that in the current Act.
commented
May 31, 2019
by
Ramitha
Thanks.Applicable rate is 14% right ?
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