Sri Lanka’s future economic projections now include revenue the IMF expects from a nationwide property tax, but the government has yet to confirm its plans.
Former Minister Champika Ranawaka says the International Monetary Fund has officially proposed that Sri Lanka implement a property tax, and has already factored the expected revenue into its economic calculations for the country. He stated that the IMF wants the tax fully operational by 2027 or 2028, but the government has not yet announced whether it agrees to the move.
According to Ranawaka, the latest IMF report includes property tax revenue under Sri Lanka’s projected national income, indicating that the Fund is treating it as part of the country’s future financial framework. He said this shows the IMF expects the government to move forward with the proposal, even if there has been no public confirmation.
He added that he hopes President Ranil Wickremesinghe will officially clarify the government’s stance when presenting the upcoming national budget to Parliament. Many economists have already warned that a property tax will directly affect urban landowners, commercial property holders and high-value residential properties, making it one of the most politically sensitive revenue tools.
The proposal comes as Sri Lanka remains under strict IMF supervision following its economic collapse, and any decision on taxation is likely to affect debt restructuring, public reaction and long-term fiscal policy.
