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Madagascar vs Sri Lanka: tax rates compared
Sri Lanka's income tax rate is 11pp higher than Madagascar's (36% vs 25%). The 200-country average is 28%: Madagascar sits below it, Sri Lanka sits above it. Madagascar's figure is dated 2026-01-01 and Sri Lanka's 2025-08-28, so the two rates come from different data vintages.
Verified data covers four of the six tracked tax types for both countries; every rate below is cited to its source and dated.
At a glance
| Tax | MG | LK | Difference |
|---|---|---|---|
| Income Tax | 25% | 36% | LK +11 pplargest gap |
| Corporate Tax | 20% | 30% | LK +10 pp |
| VAT | 20% | 18% | MG +2 pp |
| Wealth Tax | 0% | 0% | match |
Income Tax
| Country | Rate | Source |
|---|---|---|
| Madagascar | 25% | Source: Ministère de l'Économie et des Finances (Madagascar) — Loi n° 2025-021 portant Loi de Finances pour 2026, Article 01.03.16 · as of 2026-01-01 |
| Sri Lanka | 36% | Source: Inland Revenue Department, Sri Lanka — Tax Chart, Year of Assessment 2025/2026 · as of 2025-08-28 |
| Difference | −11 pp | Sri Lanka higher |
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| Madagascar | 20% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Sri Lanka | 30% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Difference | −10 pp | Sri Lanka higher |
Sri Lanka's corporate tax rate is 10pp higher than Madagascar's (30% vs 20%). The 201-country average is 22.6%: Madagascar sits below it, Sri Lanka sits above it.
VAT
| Country | Rate | Source |
|---|---|---|
| Madagascar | 20% | Source: PWC Worldwide Tax Summaries — Madagascar (Corporate, Other taxes) · as of 2025-11-18 |
| Sri Lanka | 18% | Source: Sri Lanka Inland Revenue Department — Value Added Tax (VAT) · as of 2024-01-01 |
| Difference | +2 pp | Madagascar higher |
Madagascar's VAT rate is 2pp higher than Sri Lanka's (20% vs 18%). The 181-country average is 15%: both sit above it. Madagascar's figure is dated 2025-11-18 and Sri Lanka's 2024-01-01, so the two rates come from different data vintages.
Wealth Tax
| Country | Rate | Source |
|---|---|---|
| Madagascar | 0% | Source: PWC Worldwide Tax Summaries — Net wealth/worth tax rates (quick chart) · as of 2025-11-18 |
| Sri Lanka | 0% | Source: Sri Lanka Inland Revenue Department — Acts of Parliament (tax legislation listing) · as of 2026-07-18 |
| Difference | 0 pp | displayed rates match |
Madagascar's wealth tax rate is identical to Sri Lanka's — both sit at 0%. The 193-country average is 0.1%: both sit below it. Madagascar's figure is dated 2025-11-18 and Sri Lanka's 2026-07-18, so the two rates come from different data vintages.
Not covered for both countries yet: Capital Gains Tax, Crypto Tax.