Taxes on income, profits and capital gains in Sri Lanka
Sri Lanka: Taxes on income, profits and capital gains was 29.6% in 2023. ▲ Rising
Taxes on income, profits and capital gains in Sri Lanka, 1990–2023
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of revenue.
Analysis
The most recent figure for taxes on income, profits and capital gains in Sri Lanka is 29.6%, measured in 2023. That is the highest value across all 34 years on record.
That represents a change of up 11.7% on the previous year and up 66.2% over ten years.
Over the whole period, taxes on income, profits and capital gains in Sri Lanka peaked at 29.6% in 2023 and was at its lowest, 9.9%, in 1990.
Sri Lanka ranks 47th of 153 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 34 years of available data.
Taxes on income, profits and capital gains in Sri Lanka, year by year
| Year | % of revenue | Change |
|---|---|---|
| 1990 | 9.9% | — |
| 1991 | 11.5% | +16.8% |
| 1992 | 11.7% | +1.1% |
| 1993 | 12.8% | +10.0% |
| 1994 | 12.9% | +0.7% |
| 1995 | 11.8% | -8.5% |
| 1996 | 13.5% | +14.0% |
| 1997 | 12.5% | -7.1% |
| 1998 | 11.2% | -10.4% |
| 1999 | 13.9% | +24.2% |
| 2000 | 12.7% | -8.9% |
| 2001 | 14.5% | +13.9% |
| 2002 | 14.1% | -2.5% |
| 2003 | 13.9% | -1.6% |
| 2004 | 12.9% | -6.7% |
| 2005 | 12.7% | -1.4% |
| 2006 | 15.9% | +24.6% |
| 2007 | 18.0% | +13.4% |
| 2008 | 18.4% | +2.3% |
| 2009 | 19.2% | +4.3% |
| 2010 | 16.3% | -15.5% |
| 2011 | 16.6% | +1.9% |
| 2012 | 16.2% | -2.3% |
| 2013 | 17.8% | +10.2% |
| 2014 | 16.7% | -6.4% |
| 2015 | 18.0% | +7.7% |
| 2016 | 15.3% | -14.9% |
| 2017 | 14.9% | -2.4% |
| 2018 | 16.1% | +7.6% |
| 2019 | 22.5% | +40.2% |
| 2020 | 17.4% | -23.0% |
| 2021 | 19.5% | +12.6% |
| 2022 | 26.5% | +35.7% |
| 2023 | 29.6% | +11.7% |
Sri Lanka compared with similar countries
- Sri Lanka's 29.6% is above the median for upper middle income countries, which is 22.7%, 1.3× the median. (48 countries reporting)
- Sri Lanka's 29.6% is above the median for South Asia, which is 26.2%, 1.1× the median. (6 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 12.2% | 9.9% | 13.9% | 10 |
| 2000s | 15.2% | 12.7% | 19.2% | 10 |
| 2010s | 17.0% | 14.9% | 22.5% | 10 |
| 2020s | 23.3% | 17.4% | 29.6% | 4 |
Countries ranked near Sri Lanka
More public sector data for Sri Lanka
- Arms imports 9.00 million SIPRI trend indicator values (2024)
- Arms imports (SIPRI trend indicator values), per capita 0.4107 SIPRI trend indicator values per person (2024)
- Arms imports (SIPRI trend indicator values), per unit of GDP 0.0001 SIPRI trend indicator values per US$ of GDP (2024)
- Arms imports (SIPRI trend indicator values), annual growth rate 80 % change on previous year (2024)
- Arms imports (SIPRI trend indicator values), gaps filled 9.00 million SIPRI trend indicator values (2024)
- Military expenditure (current USD), per capita 60.84 current USD per person (2024)
- Military expenditure (current USD), per unit of GDP 0.0134 current USD per US$ of GDP (2024)
- Military expenditure (current USD), annual growth rate 14.37 % change on previous year (2024)
- Military expenditure (current USD), gaps filled 1.33 billion current USD (2024)
- Arms imports (SIPRI trend indicator values), per square kilometre 80.83 SIPRI trend indicator values per square kilometre (2023)
Frequently asked questions
- What is taxes on income, profits and capital gains in Sri Lanka?
- Taxes on income, profits and capital gains in Sri Lanka was 29.6% in 2023, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest taxes on income, profits and capital gains recorded in Sri Lanka?
- The highest recorded value was 29.6% in 2023.
- What is the lowest taxes on income, profits and capital gains recorded in Sri Lanka?
- The lowest recorded value was 9.9% in 1990.
- How does Sri Lanka rank for taxes on income, profits and capital gains?
- Sri Lanka ranks 47th out of 153 countries with data for 2023.
- Is taxes on income, profits and capital gains rising or falling in Sri Lanka?
- Over the last ten years it is up 66.2%. The long-run trend across the full record is rising.
- Where does this Sri Lanka data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Taxes on income, profits and capital gains (% of revenue). Statizoid updates them automatically from the source API.
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About this data
Taxes on income, profits, and capital gains are taxes payable on the actual or presumed incomes, profits and capital gains. This indicator is expressed as a percentage of revenue which includes all transactions that add to the amount of economic value of a unit or sector.