Sri Lanka

Individual - Significant developments

Last reviewed - 28 June 2021

Up to 3 million Sri Lankan rupees (LKR) per annum from the assessable income on an individual shall be deducted as a personal relief, and the excess income to that amount shall be liable for income tax at the progressive rates of 6% and 12% on each tax slab of LKR 3 million, and 18% on the excess, with effect from 1 January 2020.

The above changes, effective from 1 January 2020, are subject to as per Inland Revenue (Amendment) Act No 19 of 2021.