Sri Lanka
A. Progress in the implementation of the minimum standard
Sri Lanka has 43 tax agreements in force as reported in its response to the Peer Review questionnaire. None of those agreements, comply with the minimum standard.
Sri Lanka has not signed the MLI.
Sri Lanka indicated in its response to the Peer Review questionnaire that steps have been taken (other than under the MLI) to implement the minimum standard in its agreements with Belgium, the Czech Republic, Denmark, India, Luxembourg, Netherlands, Pakistan, Romania and Switzerland.
Sri Lanka is implementing the minimum standard through the inclusion of the preamble statement and the PPT, combined with the LOB for its agreement with India.
In their responses to the Peer Review questionnaire, Indonesia and Japan indicated that their agreements with Sri Lanka did not give rise to material treaty shopping concerns, for their respective jurisdictions.
B. Conclusion
Sri Lanka has developed a plan for the implementation of the minimum standard in its agreements with Australia, Bahrain, Belarus, Canada, China (People’s Republic of), Finland, France, Germany, Indonesia, Italy, Japan, Korea, Malaysia, Mauritius, Norway, Oman, Poland, Qatar, Russian Federation, Seychelles, Singapore, the Slovak Republic, Sweden, Thailand, the United Arab Emirates, the United Kingdom and Viet Nam. Sri Lanka indicated in its response to the Peer Review questionnaire that bilateral negotiations would be pursued with respect to those agreements.