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...