A description of all taxes in Sri Lanka including VAT
Resident companies and public corporations are liable for corporate income tax (CIT) on their worldwide taxable income. Non-resident companies are liable for CIT of their Sri Lanka-source taxable income.
The Personal Income Tax Rate in Sri Lanka stands at 24 percent. Personal Income Tax Rate in Sri Lanka averaged 29.64 percent from 2004 until 2014, reaching an all time high of 35 percent in 2007 and a record low of 24 percent in 2011. Personal Income Tax Rate...
Resident individuals are subject to income tax on their worldwide income. Non-resident individuals are taxed only on their Sri Lanka-source income.
The Sales Tax Rate in Sri Lanka stands at 12 percent. Sales Tax Rate in Sri Lanka averaged 12.90 percent from 2006 until 2015, reaching an all time high of 15 percent in 2007 and a record low of 12 percent in 2009. Sales Tax Rate in Sri Lanka...
Since the end of the war, the Sri Lankan economy has grown at an impressive 7.5% per annum (Exhibit 1) – well above that of the global economy and indicative of resilience in the wake of domestic and global challenges.
Sri Lankan economy is ranked as the most liberalized economy in the South Asia with its strong and resilient economic policy.
A blog from a respected investor on the business and political climate in Sri Lanka
Sri Lanka offers the most friendly business climate & is ranked as the most liberalized economy in South Asia.
Three main types of business structures adopted by small businesses in Sri Lanka are: (a) sole-proprietorships; (b) partnerships; and (c) private companies.