Sri Lanka's Ministry of Finance has published a budget summary containing the tax proposals in the 2022 Budget, which was presented in parliament on 12 November 2021. One of the key measures is a one-off surcharge tax at a rate of 25% for individuals and companies who earned taxable income exceeding LKR 2 billion for the year of assessment 2020/2021. Further, a 2.5% social security contributi…