Sri Lanka will introduce a nationwide property tax system by the first quarter of 2027, as part of the government’s ongoing fiscal reform programme aimed at expanding revenue and strengthening public finances.
The announcement was made through the IMF’s latest staff report on Sri Lanka, following the fourth review of its Extended Fund Facility (EFF) arrangement.
The report notes that preliminary steps for implementing the property tax are already in motion. Although data collection has faced minor delays, the IMF expects this phase to be completed by September 2025.
A comprehensive, digitised property valuation database combining historical records and current market data is also under development. This digital database, which is essential for accurate assessment and taxation, is expected to be finalised by the end of 2026.
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