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Legal
Effective August 12, 2026 (version 0.2)
These terms are an agreement between you and Kasun Kodagoda, trading as K2V Software Solutions, who operates Taxable, an online personal tax management platform for individual taxpayers in Sri Lanka. Taxable is a product under the WealthyIslander brand. In these terms, "Taxable", "we", and "us" mean Kasun Kodagoda trading as K2V Software Solutions, and "you" means the person who holds the account.
Taxable helps you record your income, expenses, tax payments, reliefs, assets, and liabilities for a Year of Assessment, and calculates your estimated tax position from what you record. It produces quarterly Statements of Estimated Tax and year-end return figures that you can use when you file.
Taxable is a calculation and record-keeping tool. It is not a compliance service, and it is not a guarantee that you have met your obligations under Sri Lankan tax law. In particular:
These terms are written on the basis that you may have no tax agent. If you do engage one, their review is a good idea, but nothing in these terms depends on you having engaged one.
Taxable is intended for individual taxpayers who are subject to Sri Lankan personal income tax. You may open an account only for yourself, and only if you can enter into a binding contract.
You must be at least eighteen years old to hold an account. We do not ask for or check your age when you sign up, so we rely on what you tell us. If we learn that an account is held by someone under eighteen, we will close it and delete the records held in it.
You are responsible for the accuracy of what you record and for keeping your login details secret. Tell us as soon as you believe someone else has reached your account.
Your account is personal to you. You may not share your login details with another person, and you may not use someone else's. This is not only a term of this contract. Under the Computer Crime Act, No. 24 of 2007, intentionally securing access to a computer or to information held in a computer without lawful authority is an offence, and a person entrusted with information that lets them reach a service commits a separate offence if they disclose it without express authority or in breach of a contract.
If you want another person, such as a tax agent, to see your records, use the sharing features Taxable provides rather than handing over your credentials.
Taxable is sold as annual access. The price is shown in Sri Lankan Rupees on our pricing page before you pay, and payment is taken by our payment provider, not by us directly.
Access runs for twelve months from the date of payment. It does not renew itself, and no further amount is taken from you automatically. When the twelve months end, your access ends unless you choose to buy again.
We may change our prices. A change never affects access you have already paid for, and we will give at least thirty days notice before a new price applies to a purchase you have not yet made.
If you are unhappy with Taxable, tell us. We offer a refund within fourteen days of your first purchase if you have not yet generated a tax return.
That fourteen day offer is ours, and it is in addition to your rights under Sri Lankan law rather than a replacement for them. Under the Consumer Affairs Authority Act, No. 9 of 2003, you may complain in writing to the Consumer Affairs Authority that an implied warranty was breached, within one month of the service being provided under section 32(3), or that a service did not conform to standards determined under the Act, within three months under section 13(2). The Authority may order a refund or compensation. Nothing in this section shortens those periods or stops you using them.
Your records stay yours. You keep ownership of everything you enter and every document you upload.
So that we can run the service, you give us permission to do the following things with your records and with documents you upload, and nothing beyond them:
That permission is limited to running Taxable for you. It ends when your data is deleted. We do not use your records to advertise to you, and we do not sell them.
You give this permission when you accept these terms. We keep a record of that acceptance, described in section 11, which records the version you accepted, a fingerprint of the exact text you were shown, when you accepted it, and the network address and browser you accepted it from.
What we collect and why, and how long we keep it, is described in our Privacy Policy.
Use Taxable for your own tax affairs, lawfully, and in a way that does not damage it for anyone else. You may not attempt to reach parts of the platform or data that are not yours, interfere with how it runs, copy or resell it, or use it to do anything unlawful.
Taxable is built for individual taxpayers. It is not designed for, and should not be used as, the accounting system of a business that must register for VAT.
We will provide Taxable with reasonable care and skill. Under the Consumer Affairs Authority Act, No. 9 of 2003, that warranty is implied by statute into a contract for services supplied to a consumer, and section 32(2) adds a further implied warranty where you have told us of a particular purpose or result you want.
Beyond that, we do not promise that Taxable will be uninterrupted, error free, or that its calculations will match a determination made by the Inland Revenue Department. Tax law changes, and it is open to interpretation. Where we become aware that a calculation was wrong, we will correct it, but a correction does not by itself put right a filing you have already made.
Nothing in these terms takes away a right you have under Sri Lankan law that cannot be given up by agreement.
This section, and the section above, are the parts of this agreement a court is most likely to look at closely, and we want a reviewer to see the reasoning rather than boilerplate.
We do not exclude or limit our liability for death or personal injury caused by our negligence, for fraud, or for anything else that cannot lawfully be limited. Under the Unfair Contract Terms Act, No. 26 of 1997, a term excluding liability for death or personal injury resulting from negligence is of no effect.
Subject to that, we do not accept liability for a penalty, interest charge, or additional assessment that the Inland Revenue Department imposes on you, and our total liability to you is limited to the amount you have paid us for the service in the twelve months before the claim.
A limit of this kind is not automatically effective. Under the Unfair Contract Terms Act, No. 26 of 1997, section 10(1) makes it effective only so far as it is a fair and reasonable term to have included, judged against what was known to or in the contemplation of both of us when this agreement was made, and section 10(5) puts the burden of showing that on us rather than on you. Where a term limits liability to a specified sum, section 10(4) directs a court to the resources we could expect to have available to meet the liability, and to how far it was open to us to cover ourselves by insurance. If a court decides this limit is not reasonable, the limit does not apply.
You can close your account at any time from Settings. Closing is not instant. We email you a confirmation link, and using it starts a grace period of fourteen days during which your account is read only and you can still change your mind. When that period ends we delete your records permanently, apart from an anonymised record of payments you made to us, which we keep for our own accounting.
If you close your account while paid access is still running, that access ends and we do not refund the unused part.
We may suspend or close an account that breaches these terms, including by sharing login details or by using Taxable as the accounting system of a business that must register for VAT. Where we can, we will tell you first and give you a chance to put things right.
We will change these terms from time to time. When we publish a new version, we will tell you what changed and ask you to accept it.
Until you accept a new version, you can still sign in, read your records, export or download your own data, and close your account, but you will not be able to add or change records. If you decide not to accept, you can tell us so, and we will explain what happens to your account.
We keep a record of each acceptance and each decline: which document version it was, a fingerprint of the exact text you were shown, when you decided, and the network address and browser your decision came from. We keep that record so that both of us can later establish what you agreed to. The Electronic Transactions Act, No. 19 of 2006, provides at section 11 that an offer and acceptance may be expressed in electronic form and that a contract is not denied validity for being electronic, and at section 21 that information of this kind is admissible in proceedings and presumed true unless the contrary is proved.
Simply carrying on using Taxable does not count as accepting a new version. Acceptance is something you do deliberately.
These terms are governed by the law of the Democratic Socialist Republic of Sri Lanka, and disputes arising from them are subject to the jurisdiction of the courts of Sri Lanka. That jurisdiction is not exclusive.
Nothing in this section stops you from complaining to the Consumer Affairs Authority. Complaining to the Authority is an administrative route rather than a court proceeding, and it remains open to you whatever this section says about courts.
For anything about these terms, including any formal notice under them, write to legal@taxable.lk. We do not publish a postal address, and email is the address for notice under this agreement.