Sri Lanka Income Tax Rates and Personal Allowances in 2020

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The Income tax rates and personal allowances in Sri Lanka are updated annually with new tax tables published for Resident and Non-resident taxpayers. The Tax tables below include the tax rates, thresholds and allowances included in the Sri Lanka Tax Calculator 2020.

Sri Lanka Residents Income Tax Tables in 2020: Income Tax Rates and Thresholds (Annual)
Tax RateTaxable Income Threshold
4%Income from Rs0.00to Rs600,000.00
8%Income from Rs600,000.01 to Rs1,200,000.00
12%Income from Rs1,200,000.01 to Rs1,800,000.00
16%Income from Rs1,800,000.01 to Rs2,400,000.00
20%Income from Rs2,400,000.01 to Rs3,000,000.00
24%Income from Rs3,000,000.01 and above
Sri Lanka Non-Residents Income Tax Tables in 2020: Income Tax Rates and Thresholds (Annual)
Tax RateTaxable Income Threshold
4%Income from Rs0.00to Rs600,000.00
8%Income from Rs600,000.01 to Rs1,200,000.00
12%Income from Rs1,200,000.01 to Rs1,800,000.00
16%Income from Rs1,800,000.01 to Rs2,400,000.00
20%Income from Rs2,400,000.01 to Rs3,000,000.00
24%Income from Rs3,000,000.01 and above

Income Tax in Sri Lanka in 2020

Taxes, including personal income tax, expenses and limitations are reviewed by the Government in Sri Lanka periodically and typically updated each year. Not that not all tax rates and thresholds in Sri Lanka change annually, alterations to tax policy to support strategic economic growth in Sri Lanka mean that the certain areas may be focused on to provide specific tax relief in Sri Lanka or support growth in certain areas (overseas invstment in Sri Lanka for example may mean reduced non-resident income tax rates in Sri Lanka for a period).

When tax policy in Sri Lanka changes, the resultant tax tables also change. Tax tables in Sri Lanka are simply a list of the relevent tax rates, fixed amounts and / or threholds used in the computation of tax in Sri Lanka, the Sri Lanka tax tables also include specific notes and guidance on the validity of scenarios (for example, qualifying criterea for specific tax relief / allowances) and notes of the calculation of phaseout of specific tax elements within each taxation group (dividends and corporation tax thresholds in Sri Lanka for example).

Sri Lanka Tax Tables may also be referred to as Sri Lanka Tax Slabs, Sri Lanka personal allowances and tax thresholds or Sri Lanka business tax rates. They all refer to the tax tables, whether in whole or as specific sections/categories of the tax tables therein. In the section, we publish all 2020 tax rates and thresholds used within the 2020 Sri Lanka Salary Calculator. This means that if you are aware of a 2020 tax exemption or 2020 tax allowance in Sri Lanka that you are entitled too BUT it isn't listed here, that we don't allow for it in this version of the Sri Lanka Salary Calculator. This is simply because we updated our tax calculators based on user feedback, we tailor the Sri Lanka Salary Calculator to suit our users needs. Our aim is to keep tax calculations in Sri Lanka simple, we achieve this my making the Sri Lanka tax calculators relevent to our community's needs, this includes you. So, if you would like a new 2020 tax rates, allowance or threshold adding (or perhaps updating), or if you notice an error in our 2020 tax calculations, simply contact us and we will adjust the tool.

Choose a specific income tax year to see the Sri Lanka income tax rates and personal allowances used in the associated income tax calculator for the same tax year.