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Expected GDP Outcomes: Budget 2024
The 2024 budget forecasts a greater contraction in 2023 and higher growth in 2024 compared to IMF projections.
Featured Insight
Expected GDP Outcomes: Budget 2024
The 2024 budget forecasts a greater contraction in 2023 and higher growth in 2024 compared to IMF projections.
Featured Insight
Expected GDP Outcomes: Budget 2024
The 2024 budget forecasts a greater contraction in 2023 and higher growth in 2024 compared to IMF projections.
Featured Insight
Expected GDP Outcomes: Budget 2024
The 2024 budget forecasts a greater contraction in 2023 and higher growth in 2024 compared to IMF projections.
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Sri Lankans enjoy most tax-free income in South Asia, but face highest tax fastest
The comparison of Sri Lanka’s personal income tax structure with its South Asian peers reveals three key findings. One, Sri Lanka has the highest tax-free income - that is, the minimum income before taxes are applied. Two, Sri Lankans...
2024-09-06
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2023 Budget's revenue target missed by LKR 382 Bn
The Ministry of Finance Annual Report, released on 31st May 2024, shows that in 2023, total revenue including grants fell short of the Budget target by LKR 382 billion or 11%. In 2023, actual total revenue and grants amounted to&n...
2024-08-09
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Income Tax Calculator
Try out our new income tax calculator and find out how much you would be paying at different tax structures.
2023-01-18
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Changes in Tax Structure Leads to Shrinking Tax Base across Various Taxes
Sri Lanka experienced a significant change in its tax system for the year 2020. These changes have led to a considerable shrinking in Sri Lanka’s tax base across various taxes. A narrow tax base increases tax administration costs and reduces revenue collection....
2022-09-06
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Shrinking Tax Base Increases Tax Burden on Existing Taxpayers
The income tax per person is calculated as the total government revenue from income tax (including PAYE) divided by the total registered taxpayers for income tax which includes Individual Tax Payers and Employees paying income tax under PAYE / APIT. The tax per person...
2022-03-30
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Income Tax Threshold Changes
Sri Lanka’s personal income tax regime considers employment income, business income, investment income and other income as taxable income.In Janua...
2021-11-08
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