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of <h1>India-Sri Lanka DTAA: Article 11 caps tax on cross-border interest payments at 10%, with exemptions for government entities.</h1> Article 11 of the Double Tax Avoidance Agreement (DTAA) between India and Sri Lanka addresses taxation on interest. Interest paid in one Contracting State to a resident of the other may be taxed in both states, with a maximum tax rate of 10% in the state where it arises if the beneficial owner is a resident of the other state. Exemptions apply for interest beneficially owned by government entities, central banks, or wholly government-owned institutions. Interest is defined as income from debt claims, excluding penalty charges. Special rules apply if the interest is connected to a permanent establishment or if a special relationship affects the interest amount.
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