Sri Lanka passes Inland Revenue (Amendment) Bill, introducing 15% tax on IT service exports

The Inland Revenue (Amendment) Bill, which introduces a 15 percent tax on IT service exports, was passed in the Parliament of Sri Lanka today (March 20) without a vote and without any amendments.

During the Second Reading debate, held from 5:40 PM to 7:10 PM, Deputy Minister of Finance Harshana Sooriyaperuma stated that the Bill actually reduces the tax on IT service exports from 30 percent to 15 percent.

He explained that the previous government had agreed with the IMF to impose a 30 percent tax on IT service exports.

However, opposition MP Harsha de Silva criticized the government, accusing it of going back on its promise to keep the tax on IT service exports at zero percent.

Following the Committee Stage consideration, the Bill was passed in Parliament. It was initially presented for its First Reading on March 1, 2025.

Additionally, Speaker Dr. Jagath Wickramaratne endorsed the certificate on the Bill today (March 20), in accordance with Article 79 of the Constitution.

As a result, the Bill will now be enforced as the Inland Revenue (Amendment) Act No. 02 of 2025.

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