Sri Lanka is preparing to revive a nationwide property tax system under an International Monetary Fund program, according to published program documents.
“We plan to continue building the data infrastructure for a possible property tax,” the IMF economic policy pledges said.
“In the meantime, building adequate information on property valuation is key.
“The first step in the process requires a database on historical valuation records. To this end, we are working to digitize the valuation records held by the government valuation department, starting with municipal councils. We plan to complete this process by end-2025.
“Next, a database on market value estimates is required. We have thus put in place a provisional digital nationwide Sales Price and Rents Register (SPRR).
“We have resolved outstanding data sharing constraints and will establish the final SPRR by end-September 2025.”
The IMF has also emphasized that parallel discussions on property taxation frameworks will be essential to ensure the system is ready for rollout in 2027.
