Sri Lanka’s Share Transaction Levy revenue has increased by 209% from last year’s recorded incomes, from Rs. 2.2 billion in revenue collected to Rs. 6.8 billion, due to the growth in the Sri Lankan local stock market, Inland Revenue Department Senior Deputy Commissioner Nandana Kumara said yesterday (24), speaking at a press briefing.

“The stock market’s share transaction levy, with the growth of the stock market, has seen an increase in transactions,” Kumara said. “As a result of this, the income from the levy has increased from the 2024 figure of Rs. 2.2 billion, to Rs. 6.8 billion. This depends on the performance of the market.”

According to the Colombo Stock Exchange website, the Share Transaction Levy remains at 0.3% for both buyers and sellers on the value of each transaction in the stock exchange.

The stock market’s All Share Price Index (ASPI) between January and September of this year increased by 33%, and reached its highest value in November, crossing 23,659 points for the first time.

Further, the S&P SL20 Index for the top 20 companies in Sri Lanka advanced by over 10% by 30 June. More recent market movements within the past week indicate a period of consolidation.

Commenting on the increases in tax collection, with a broadened base, IRD Official Kumara further stated that in comparison to November 2024, total collected VAT revenue increased by 21%, on a year-on-year basis.

“Next, there is a 14% increase in the Corporate Income Tax (CIT) from taxes collected in 2024. Social Security Contribution Levy (SSCL) has seen a 19% increase in tax income, in comparison to 2024. If we take the personal income tax, there is a 9% increase from those collected in 2024, and this year the tax collectible minimum threshold has been increased from Rs. 1,200,000 to Rs. 1,800,000.”