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FAQ

Owning and operating real estate in Sri Lanka entails certain taxes and charges, primarily levied by local authorities and, in some cases, the Urban Development Authority (UDA).

1. Assessment Rates

•Payable To: The local authority of the area where the property is located.

•Basis of Calculation:

•Based on the annual value of the property, determined by the local authority after a property inspection or valuation.

•Rates vary depending on the location and type of property.

•Payment Frequency: Quarterly.

2. Urban Development Authority (UDA) Charges

•Applicable To:

•Only certain premises, depending on the nature and use of the property.

•Purpose:

•These charges are imposed for properties within areas designated for urban development or for specific types of properties subject to UDA regulations.

Additional Notes

•Property owners should confirm the applicable taxes and charges with local authorities or the UDA, as these may vary depending on the location, zoning regulations, and property use.

•Non-compliance with tax payments can lead to penalties or restrictions on property-related activities.

By adhering to these tax obligations, property owners can ensure smooth possession and operation of their real estate assets.

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