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Tax Chart​

Year of Assessment 2020/2021

Tax rates for resident and non-resident Individuals​

List of available Reliefs
  • Personal relief for residents/non-resident citizens of Sri Lanka is Rs. 3,000,000/-
  • Expenditure relief for residents of Sri Lanka maximum Rs. 1,200,000/-
Taxable Inco​me
(Except gains from the realization of investment asset)
Rate
On the First Rs. 3,000,000/- 6%
On the Next Rs. 3,000,000/- 12%
On Balance 18%
  • Gains from realization of investment assets shall be taxed at the rate of 10%.
  • Business consisting of betting and gaming, manufacture and sale or import and sale of any liquor or tobacco product shall be taxed at the rate of 40%.

Tax on Terminal Benefits from Employment
Application of Concessionary Rates
Total terminal benefits from employment
(Commuted pension, retiring gratuity, ETF or Approved compensation which is uniformly applicable to all employments).
Rate
On the First Rs. 10,000,000/- 0%
On the Next Rs. 10,000,000/- 6%
On the Balance 12%
Application of Standard Rates
With respect to compensation for loss of office which has not been approved by the CGIR, payment from provident fund (which is not a regulated fund or not an approved fund by the CGIR), other payments or any retirement non-cash benefit Standard rates of 6%,12%, on each Rs.3,000,000 and 18% on the balance

Tax Rates for Companies ​

Tax Rate for Partnerships

Tax Rates for Trusts

Tax Rates for Unit Trust or Mutual Funds

Tax Rates for Charitable Institutions

Tax Rates for Non- Governmental Organization

Tax rates for Employees Trust Funds, Provident or Pension funds and Termination Funds

Withholding Taxes

Advanced Personal Income Tax (APIT)

Advance​d Income Tax (AIT)​

Value Added Tax

Stamp Duty

Share Transaction Levy

Betting and Gaming Levy

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Last updated: 31-12-2021