
New 15% Tax on Foreign Earnings for Sri Lankan Freelancers and Service Exporters
In a significant policy shift, the Sri Lankan government has introduced a 15% tax on foreign earnings for individuals and businesses engaged in exporting services. This move, effective from April 1, 2025, aims to bolster the nation’s foreign exchange reserves and formalize the income of freelancers and service exporters. Policy Overview The Inland Revenue (Amendment)…