CORPORATE INCOME TAX

WHO SHOULD PAY THE TAXES?

  • Companies
  • Charitable institution
  • Club, society or association
  • Unit trust or mutual fund (NGO)
  • Non-Governmental organization
  • Any government organization
  • Employees Trust Fund, Provident Fund, Pension Fund, Termination Fund or Gratuity Fund
  • Any other entity excluding partnership

HOW MUCH YOU SHOULD PAY?

ENTITY
NATURE OF THE ENTITY
TAX RATE
STANDARD RATES
Company (Other than companies taxed at special rates)
24%
SPECIAL RATES
Small and Medium Enterprises
14%
Exporting Goods & Services
14%
Business of the payment received in foreign currency & remitted through a bank to Sri Lanka
14%
Agro Processing
14%
Information Technology Services
14%
Promotion of Tourism
14%
Construction Services
14%
Healthcare Services
14%
Dividends received from a resident company
14%
Realization of Investment Assets
10%
Manufacturing
18%
Betting and Gaming
40%
Manufacture, Sale or Import and Sale of any liquor or tobacco products
40%
Remittance tax on non-resident companies
14%
TRUST
Trust Other than gains from the realization of investment assets
18%
Gains from realization of Investment Asset
10%
UNIT TRUST / MUTUAL FUND
Unit Trust or Mutual Funds (Other than gains from the realization of investment assets)
24%
Gains from realization of Investment Asset
10%
NON GOVERNMENTAL ORGANIZATION
Non-governmental organization (Other than gain on realization of investment asset)
24%
Gains from realization of Investment Asset
10%
NGO Tax on the grant, donation or contribution or in any other manner on 3% of such receipts
24%
CHARITABLE TNSTITUTIONS
Charitable institutions (Other than gain on realization of investment asset)
14%
Gains from realization of Investment Asset
10%
EMPLOYEES TRUST FUNDS, PROVIDENT OR PENSION FUNDS
Employees Trust Funds, Provident or Pension funds and Termination Funds
14%