Browsing Econ by Subject "Personal income tax - PIT"
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Personal Income Tax (PIT): SL has the highest income tax rate at a lower income level in South Asia
(Colombo: Verite Research, 2024)Sri Lanka imposes its highest tax rate at a relatively lower income threshold compared to other South Asian countries. Individuals earning over LKR 308,333 per month are subject to a steep 36% tax rate, making Sri Lanka ... -
Personal Income Tax (PIT): SL has the highest level of income with zero tax in South Asia
(Colombo: Verite Research, 2024)Sri Lanka has the highest tax-free income threshold in South Asia – without the Maldives. Citizens are exempt from paying income tax unless they earn over LKR 1.2 million annually (LKR 100,000 per month). In comparison, ... -
Personal income tax (PIT): SL’s tax burden is less at lower incomes but more at high incomes compared to South Asia
(Colombo: Verite Research, 2024)Sri Lanka's personal income tax burden varies significantly between lower and higher income levels. At lower incomes, particularly for those earning below LKR 250,000 per month, the tax burden—measured as the percentage ...