The President of Sri Lanka delivered the Budget Speech for 2025 on 17 February 2025. The main tax measures include the following:
- The requirement to file the Statement of Estimated Tax payable (SET) will be removed starting from year of assessment 2025/2026;
- Provisions will be introduced to calculate tax installments based on the previous year's income tax payable;
- Payments to non-residents for aircraft, software licenses, or related services from the Sri Lanka Air Force will be exempted;
- P…