Individual Tax Computation
w.e.f. April 1, 2025Calculates Advance Personal Income Tax (APIT) and annual personal income tax under the revised tax-free threshold of Rs. 1,800,000 p.a. (Rs. 150,000 per month).
Calculated Tax Liability
Rs. 6,000
Rs. 72,000
Applicable Slab Breakdown (Annual Scale):
| Income Band | Tax Rate | Tax in Slab |
|---|
Partnership Tax Estimator
Under the Inland Revenue Act No. 24 of 2017, a partnership is taxed at 6% on taxable income in excess of the first Rs. 1,000,000. Remaining divisible profits are shared among partners.
Partnership Tax Results
Rs. 240,000
Rs. 4,760,000
Partner Profit Allocation (Equal Share)
Corporate Income Tax
Corporate tax in Sri Lanka is generally charged at the standard rate of 30% on taxable income, with specific sectors (such as export of goods/services) eligible for designated concessions.
Corporate Tax Assessment
Rs. 3,000,000
Rs. 750,000
Quarterly Statutory Payment Schedule:
- • 1st Installment: 15th August
- • 2nd Installment: 15th November
- • 3rd Installment: 15th February
- • 4th Installment: 15th May
- • Final Return Filing: 30th November
VAT & SSCL Estimation
Value Added Tax (VAT) rate is 18% (annual threshold: Rs. 60M). Social Security Contribution Levy (SSCL) standard rate is 2.5% (annual threshold: Rs. 36M).
Estimated Indirect Tax Liability
Rs. 1,300,000
Rs. 250,000
Statutory Disclaimer & Consultation Advice
The calculations provided by this tool are indicative estimates based on the provisions of the Inland Revenue Act No. 24 of 2017 and recent amendments effective April 1, 2025. Actual tax obligations depend on individual circumstances, exempt income, qualifying payments, withholding tax credits, and IRD guidelines. Please consult Synergy Advisors (Chartered Accountants) for definitive tax computations and official return submissions.
