Termination of Tax Treaty: notice by either state ends treaty effect for subsequent assessment years under specified timing rules.

Article 30 provides that either Contracting State may give written diplomatic notice of termination after five years in force; such notice ceases the Convention for Sri Lanka in respect of income and capital assessable for years of assessment commencing on or after 1 April in the calendar year following the notice, and for India in respect of income for the assessment year commencing on 1 April in the second calendar year following the notice and for capital for years of assessment commencing on or after 1 April in the calendar year next following the notice. The Protocol aligns Article 5 durations with longer periods in later Sri Lankan treaties and preserves a not-less-favourable basis for taxing shipping profits under Article 8(2).

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