Sri Lanka or Venezuela: which taxes less?

Both tax systems side by side, headline rates and the gap between them.

Level pegging: Sri Lanka and Venezuela weigh about the same on the taxpayer.

Tax Sri Lanka Venezuela Gap
Corporate income tax headline rate 30% 34% −4.0 points
Personal income tax top bracket 6% to 36% 6% to 34% +2.0 points
VAT standard rate 18% 16% +2.0 points

Detailed schedules

Corporate income tax

Sri Lanka

Standard companies 30%
Exported services paid in foreign currency Revenue repatriated via banking system 15%
Gambling, betting, alcohol and tobacco 45%

Venezuela

General regime 34%
Oil activities 50%
Mining activities 60%

Personal income tax

Sri Lanka

Up to 1,000,000 LKR After personal allowance of 1,800,000 LKR 6%
1,000,001 to 1,500,000 LKR 18%
1,500,001 to 2,000,000 LKR 24%
2,000,001 to 2,500,000 LKR 30%
Over 2,500,000 LKR 36%

Venezuela

n/a

See the Sri Lanka page See the Venezuela page