Sri Lanka Income Tax Rate 2017, 2018 for Individual (Personal) tax, Capital Gain Tax and Corporate / Companies, Residents and Non Residents

As per Sri Lanka Budget 2017-2018 Income tax rates are as under:

Sri Lanka Individual Employment Income Tax Rate for 2017-2018

Taxable Income (LKR)	Tax Rate
Upto 1,200,000	Nil
Next LKR 600,000	4%
Next LKR 600,000	8%
Next LKR 600,000	12%
Next LKR 600,000	16%
Next LKR 600,000	20%
Remaining amount	24%

Note: Tax Free Allowance

LKR 500,000 for all source of Income

Additional Tax Relief LKR 700,000 for employees only

Sri Lanka Income Tax Rate other than employment income for 2017-18

Taxable Income (Rs)	Tax Rate
First LKR 600,000	4%
Next LKR 600,000	8%
Next LKR 600,000	12%
Next LKR 600,000	16%
Next LKR 600,000	20%
Remaining amount	24%

Sri Lanka Capital Gain Tax Rate for 2018

Description	Total Tax
Capital Gain exceeding LKR 50,000	10%

Assets under Capital Gain Tax

- Land or buildings
- a membership interest in a company, partnership or trust
- a security or other financial asset
- an option, right or other interest in an asset referred to above

Excluded assets from Capital Gain Tax

Trading Stock and depreciable assets are specifically excluded from Capital Gain Tax

Sri Lanka Income Tax Rate for Company 2018

Particulars	Tax Rate
Small and medium enterprises	14%
Export houses	14%
Agricultural Business	14%
Education Services	14%
Tourism Companies	14%
Information Technology Companies	14%
Betting, Gambling, Liquor and tobacco business	40%
Companies other than taxable @14% or 40%	28%
On Dividend Distributed	14%
Remittances of Profit	14%