
Sri Lanka enforces strict asset declaration for all public servants including spouses, children, and dependents under the Anti-Corruption Act. Find out what must be disclosed and why it matters.
Sri Lanka’s Public Sector Faces Tough New Scrutiny Under Anti-Corruption Law
Sri Lanka has launched a sweeping crackdown on hidden wealth in the public sector, officially mandating that all public servants along with their families disclose their full financial details under the Anti-Corruption Act No. 9 of 2003.
In a major policy shift aimed at enforcing transparency, public officials must now file annual declarations of assets and liabilities not only for themselves, but also for their spouses, children, and any dependents living under the same roof.
This bold initiative comes as the government seeks to tackle corruption at every level, with legal obligations extending beyond traditional tax-based disclosures. The new requirements demand full reporting of all owned property, bank accounts, shares, and liabilities, whether held in Sri Lanka or abroad.
Importantly, the law stipulates that the declarations must also include financial information on anyone who is financially reliant on the public servant regardless of age and even includes individuals who reside with them but aren’t legally considered dependents under tax law.
The authorities have emphasized that failure to comply will trigger legal consequences, including potential disciplinary action or prosecution. The move is being hailed as a landmark effort to deter illicit enrichment and restore public trust in the integrity of the public sector.
While some critics argue the process may invade privacy, supporters say it’s long overdue. By forcing transparency across entire households, the government hopes to close loopholes that previously allowed corrupt officials to hide assets under family members’ names.
With audits and follow-up checks expected in the coming months, Sri Lanka is sending a clear message: no more room for shadow wealth in public service.