# Taxable > Personal tax management platform for Sri Lankan individual taxpayers. Last-Updated: 2026-04-03 Version: 1.2 Language: en ## About Taxable is a web-based personal tax management platform that helps Sri Lankan individuals understand, manage, and comply with their income tax obligations under the Inland Revenue Act No. 24 of 2017. It is the first dedicated personal income tax management SaaS platform built specifically for Sri Lanka. The platform automates tax calculations using progressive tax rates, tracks income and expenses across the Year of Assessment (April 1 to March 31), and generates Statements of Estimated Tax (SET) and year-end tax returns for filing with the Inland Revenue Department (IRD). Sri Lanka has approximately 16 million tax-eligible individuals out of a population of 21 million. Of the 11 million registered with the IRD, only about 2 million actively file returns. Approximately 10,000 tax professionals serve this population. Taxable bridges this gap by making tax compliance accessible to individuals without specialist tax knowledge. The platform is built and operated by WealthyIslander, based in Colombo, Sri Lanka. ## Why Taxable ### vs. Manual Filing / Spreadsheets Manual tracking in Excel or paper records means no automatic CBSL exchange rate lookup, no progressive tax calculation across 6 slabs, no quarterly deadline reminders, and no document-to-record linking. One missed quarterly payment incurs penalties starting at 10% of the instalment amount. Taxable automates all of this from currency conversion to deadline tracking to tax return generation. ### vs. Hiring a Tax Consultant Alone Tax consultants in Sri Lanka typically charge Rs. 15,000–50,000+ per filing. They still require you to organise your data receipts, income records, payment proofs before they can begin. Taxable complements your tax consultant by keeping records organised year-round, reducing their billable hours, and giving them a complete ready-to-review package. At Rs. 5,900/year, Taxable pays for itself even if you continue using a consultant. ### vs. Taking No Action Late filing penalties start at Rs. 50,000 under the Inland Revenue Act No. 24 of 2017. Not filing when required is a legal violation with escalating penalties. The IRD is actively increasing enforcement. Taxable makes compliance straightforward so you never face penalties for something that could have been prevented. ## Key Features - **Income Tracking**: Record foreign and local employment income, business income, and investment income with automatic currency conversion using official Central Bank of Sri Lanka (CBSL) exchange rates - **Expense Management**: Track business expenses with percentage-based allocation (e.g., 40% business, 60% personal), revenue and capital expense categorisation, and receipt uploads - **Tax Calculation Engine**: Automated progressive tax calculation across 6 slabs (6% to 36%), with Withholding Tax (WHT) and Advance Personal Income Tax (APIT) credit deductions - **Quarterly Payment Tracking**: Track quarterly tax instalments due on August 15, November 15, February 15, and May 15, with deadline reminders and penalty estimation - **Tax Reliefs**: Automatic application of personal relief (LKR 1,800,000 for YoA 2025/2026), rent relief (25% of rent income or actual expenses), and solar relief (up to LKR 600,000) - **Document Management**: Upload and organise tax-related documents (PDF, JPG, PNG) with 5MB per file limit, linked to income, expense, and payment records - **Filing Document Generation**: Generate Statement of Estimated Tax (SET), income and deduction summaries, and year-end tax returns ready for IRD submission - **Tax Agent Collaboration**: Invite your tax consultant to review records, export filing-ready data, and collaborate on return preparation ## Target Users - **Freelancers & Consultants**: Earning in USD or other foreign currencies from clients abroad - **Small Business Owners**: Need to separate business and personal expenses - **Salaried Employees**: May be overpaying through APIT and missing relief claims - **Investors & Landlords**: Multiple income streams (dividends, interest, rent) with different tax treatments - **First-Time Filers**: New to taxes, need plain-language guidance without jargon ## Pricing (Sri Lankan Rupees) - **Free Trial**: 14 days, full platform access, up to 10 transactions - **Annual Plan**: Rs. 5,900/year (best value) - unlimited transactions, all features, priority support - **Monthly Plan**: Rs. 590/month - unlimited transactions, all features ## Sri Lankan Tax Context - Tax year (Year of Assessment): April 1 to March 31. YoA 2025/2026 = April 1, 2025 to March 31, 2026 - Personal relief threshold: LKR 1,800,000 per year (YoA 2025/2026) - Progressive tax rates: 6%, 12%, 18%, 24%, 30%, 36% - Quarterly payment deadlines: August 15, November 15, February 15, May 15 - Late filing penalty: starts at Rs. 50,000 - Governing law: Inland Revenue Act No. 24 of 2017 ## Availability Taxable is available at https://taxable.lk. It is a cloud-based web application accessible from any modern browser desktop, tablet, or mobile. No installation required. Data is encrypted with AES-256 at rest and TLS 1.3 in transit. Infrastructure is hosted on enterprise-grade cloud services with ISO 27001 compliance. ## Links - [Home](https://taxable.lk): Landing page and product overview - [Features](https://taxable.lk/features): Detailed feature descriptions - [Use Cases](https://taxable.lk/use-cases): Persona-specific scenarios - [Security](https://taxable.lk/security): Data protection and security details - [Blog](https://taxable.lk/blog): Tax education articles for Sri Lankans - [Pricing](https://taxable.lk/#pricing): Subscription plans - [About](https://taxable.lk/about): Company information - [Privacy Policy](https://taxable.lk/privacy): Data handling practices - [Terms of Service](https://taxable.lk/terms): Service terms - [Full Content](https://taxable.lk/llms-full.txt): Comprehensive product documentation for LLMs - [App](https://app.taxable.lk): Main application (requires account)