SG · AsiaLK · Asia
Singapore vs Sri Lanka: tax rates compared
Sri Lanka has an income tax rate of 36%, 12pp above Singapore's 24%. The 200-country average is 28%: Singapore sits below it, Sri Lanka sits above it. Singapore's figure is dated 2026-04-27 and Sri Lanka's 2025-08-28, so the two rates come from different data vintages.
Verified data covers five of the six tracked tax types for both countries; every rate below is cited to its source and dated.
At a glance
| Tax | SG | LK | Difference |
|---|---|---|---|
| Income Tax | 24% | 36% | LK +12 pp |
| Corporate Tax | 17% | 30% | LK +13 pplargest gap |
| VAT | 9% | 18% | LK +9 pp |
| Capital Gains Tax | 0% | 0% | match |
| Wealth Tax | 0% | 0% | match |
Income Tax
| Country | Rate | Source |
|---|---|---|
| Singapore | 24% | Source: Inland Revenue Authority of Singapore (IRAS) — Individual Income Tax rates · as of 2026-04-27 |
| Sri Lanka | 36% | Source: Inland Revenue Department, Sri Lanka — Tax Chart, Year of Assessment 2025/2026 · as of 2025-08-28 |
| Difference | −12 pp | Sri Lanka higher |
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| Singapore | 17% | 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 | −13 pp | Sri Lanka higher |
Sri Lanka has a corporate tax rate of 30%, 13pp above Singapore's 17%. The 201-country average is 22.6%: Singapore sits below it, Sri Lanka sits above it.
VAT
| Country | Rate | Source |
|---|---|---|
| Singapore | 9% | Source: PWC Worldwide Tax Summaries — Singapore (Corporate, Other taxes) · as of 2026-07-02 |
| Sri Lanka | 18% | Source: Sri Lanka Inland Revenue Department — Value Added Tax (VAT) · as of 2024-01-01 |
| Difference | −9 pp | Sri Lanka higher |
Sri Lanka has a VAT rate of 18%, 9pp above Singapore's 9%. The 181-country average is 15%: Singapore sits below it, Sri Lanka sits above it. Singapore's figure is dated 2026-07-02 and Sri Lanka's 2024-01-01, so the two rates come from different data vintages.
Capital Gains Tax
| Country | Rate | Source |
|---|---|---|
| Singapore | 0% | Source: PWC Worldwide Tax Summaries — Singapore (Individual, Other taxes) · as of 2026-07-02 |
| Sri Lanka | 0% | Source: Inland Revenue Department, Sri Lanka — Capital Gain Tax (CGT) · as of 2025-11-19 |
| Difference | 0 pp | displayed rates match |
Singapore and Sri Lanka share the same capital gains tax rate: 0%. The 175-country average is 10.3%: both sit below it. Singapore's figure is dated 2026-07-02 and Sri Lanka's 2025-11-19, so the two rates come from different data vintages.
Wealth Tax
| Country | Rate | Source |
|---|---|---|
| Singapore | 0% | Source: PWC Worldwide Tax Summaries — Singapore (Individual, Other taxes) · as of 2026-07-02 |
| 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 |
Singapore and Sri Lanka share the same wealth tax rate: 0%. The 193-country average is 0.1%: both sit below it.
Not covered for both countries yet: Crypto Tax.