Sri Lanka

Paying Taxes in

Sri Lanka

Listed below is a detailed summary of the taxes and mandatory contributions that a medium-size company must pay or withhold in a given year, as well as measures of administrative burden in paying taxes.

The information appearing on this page was collected as part of the Doing Business project, which measures and compares regulations relevant to the life cycle of a small- to medium-sized domestic business in 183 economies. The most recent round of data collection for the project was completed in December 2010.

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To see indicator data for all economies, see the Paying Taxes page. To see how economies rank, see the Rankings page.

Tax or mandatory contribution Payments (number) Notes on Payments Time (hours) Statutory tax rate Tax base Total tax rate (% profit) Notes on TTR
National Business Tax 12 3.0% turnover 44.2
Corporate income tax 5 16 35.0% taxable income 25.6
Turnover tax 1 1.0% turnover 14.7
Social security contribution 12 96 12.0% gross salaries 13.5
Provident fund contribution 12 3.0% gross salaries 3.4
Property tax 1 35.0% annual property value 1.7
Social responsibility levy 0 1.50% taxable income 1.1
Tax on check transactions (stamp duty) 12 0.1% transaction value 0.7
Tax on interest 0 withheld 10.0% interest income 0.3 included in other taxes
Fuel tax 1 0.1
Municipal business tax 1 varies from LKR 250 to LKR 5,000 0.1
Vehicle tax 1 Fixed fee (LKR 1,000) 0
Stamp duty 1 various rates small amount
Value added tax (VAT) 12 144 12.0% value added not included
Totals: 71 256 105.2
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