VAT & Taxes on Apartment Sales in Sri Lanka - 2024 When buying or selling property in Sri Lanka, understanding the tax implications is crucial. This article delves into the specifics of Value Added Tax (VAT) and other taxes that apply to apartment sales in Sri Lanka, ensuring that buyers and sellers are well-informed and prepared for their transactions. Value Added Tax (VAT) on Apartment Sales VAT...
Capital Gains Tax in Sri Lanka: Impact on Property Investments What is Capital Gains Tax? The Capital Gains Tax (CGT) is a tax on the profit from the sale of property or investment assets, recently re-introduced in Sri Lanka under the Inland Revenue Act, No. 24 of 2017. Effective from April 1, 2018, this tax is set at 10% of the profit. It takes into account the costs incurred in buying, improving, and...
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