Property sales tax for non citizens in Sri Lanka

Member since 11 August 2015

reeyalMember11 August 2015 21:35:13

Hi everyone,

I have a friend who recently inherited a property in Galle after his mother died. He is a non-citizen and is now considering selling the property. Does anyone know what tax/fees would be payable from the sale?

Thanks

dr_sosna Member

Member since 19 September 2013

dr_sosnaMember17 August 2015 04:33:09

Try looking at the Inland Revenue site

HamiltonBV3 Member

Member since 28 February 2015

HamiltonBV3Member17 August 2015 05:54:27

Hi,
He could sell the property if聽 a buyer is prepared to pay him in US$.Is the property legally in his name? Where in Gall is it located? and how much is he asking for it.
TW

Rathnavali Member

Member since 22 May 2012

RathnavaliMember17 August 2015 18:17:32

If the property value is above Rs. 4 Million, he can acquire title, but only after his inheritance is established through a testamentary case. As the next of kin, he can inherit property belonging to his mother, even though he is a non-citizen.
After the Letter of Administration is issued by court, he can sell the property.

There is no property tax. But he needs Exchange Control approval to repatriate the sale proceeds.