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Sri Lanka Adopts Interim Budget 2015 Including Super Gain Tax

|Approved Changes|Sri Lanka
Sri Lanka

On 20 October 2015, Sri Lanka's parliament adopted the interim budget for 2015. The main measure is a Super Gain Tax at the rate of 25% on the profits of companies exceeding LKR 2 billion (~USD 14.1 million) during the 2013/2014 tax year, which is payable in three equal installments by the end of October, November and December 2015. The interim budget also includes a number of one-off levies on various industries that are payable by 15 November 2015, including an LKR 1 billion levy on casino …

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