Taxes on income, profits and capital gains in Sri Lanka
Sri Lanka: Taxes on income, profits and capital gains was 33.5% 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 total taxes.
Analysis
Sri Lanka recorded 33.5% for taxes on income, profits and capital gains in 2023. That is the highest value across all 34 years on record.
Compared with earlier readings it is up 9.9% on the previous year and up 63.8% over ten years.
Over the whole period, taxes on income, profits and capital gains in Sri Lanka peaked at 33.5% in 2023 and was at its lowest, 12.0%, in 1990.
Sri Lanka ranks 92nd 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 total taxes | Change |
|---|---|---|
| 1990 | 12.0% | — |
| 1991 | 14.3% | +19.0% |
| 1992 | 14.4% | +0.7% |
| 1993 | 15.6% | +9.0% |
| 1994 | 15.4% | -1.8% |
| 1995 | 14.5% | -5.8% |
| 1996 | 15.9% | +10.1% |
| 1997 | 15.1% | -5.1% |
| 1998 | 13.9% | -8.3% |
| 1999 | 17.0% | +22.6% |
| 2000 | 15.1% | -11.5% |
| 2001 | 16.8% | +11.8% |
| 2002 | 17.0% | +0.8% |
| 2003 | 17.0% | +0.3% |
| 2004 | 14.7% | -13.6% |
| 2005 | 15.6% | +6.1% |
| 2006 | 18.8% | +20.5% |
| 2007 | 21.1% | +12.1% |
| 2008 | 21.6% | +2.6% |
| 2009 | 22.5% | +4.4% |
| 2010 | 18.7% | -17.0% |
| 2011 | 19.4% | +3.4% |
| 2012 | 19.0% | -1.9% |
| 2013 | 20.4% | +7.7% |
| 2014 | 18.9% | -7.8% |
| 2015 | 19.4% | +2.7% |
| 2016 | 17.7% | -8.7% |
| 2017 | 16.4% | -7.0% |
| 2018 | 18.1% | +10.3% |
| 2019 | 24.7% | +36.0% |
| 2020 | 19.6% | -20.5% |
| 2021 | 22.0% | +12.5% |
| 2022 | 30.5% | +38.3% |
| 2023 | 33.5% | +9.9% |
Sri Lanka compared with similar countries
- Sri Lanka's 33.5% is below the median for upper middle income countries, which is 37.1%, 90% of the median. (48 countries reporting)
- Sri Lanka's 33.5% is above the median for South Asia, which is 33.0%, 1.0× the median. (6 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 14.8% | 12.0% | 17.0% | 10 |
| 2000s | 18.0% | 14.7% | 22.5% | 10 |
| 2010s | 19.3% | 16.4% | 24.7% | 10 |
| 2020s | 26.4% | 19.6% | 33.5% | 4 |
Countries ranked near Sri Lanka
More public sector data for Sri Lanka
- Democracy, annual growth rate 0 % change on previous year (2025)
- Men's universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote in practice, annual growth rate 0 % change on previous year (2025)
- Elected parliament, annual growth rate 0 % change on previous year (2025)
- Chief executive of the government is elected, annual growth rate 0 % change on previous year (2025)
- Democracy 6 (2025)
- Chief executive of the government is elected 1 (2025)
- Elected parliament 1 (2025)
- Men's universal right to vote 1 (2025)
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 33.5% 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 33.5% in 2023.
- What is the lowest taxes on income, profits and capital gains recorded in Sri Lanka?
- The lowest recorded value was 12.0% in 1990.
- How does Sri Lanka rank for taxes on income, profits and capital gains?
- Sri Lanka ranks 92nd 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 63.8%. 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 total taxes). 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 total taxes which includes all compulsory, unrequited payments, in cash or in kind, made by institutional units to government units.