Foreign clients, mixed currencies, real expenses, prepared cleanly. Designers, developers, writers, photographers and consultants — upload your bank statements (PDF/CSV/OFX) and TaxWise extracts and classifies every USD, GBP and LKR transaction, then reconciles it into IRD-ready IIT schedules you submit yourself.
USD from Upwork, GBP from a UK studio, LKR from local clients. Each settles on a different day at a different rate.
Nothing was withheld. You owe the full amount in installments, and most freelancers don't realise installments exist until they're late.
Internet, co-working, the laptop, training, the half-room you use as an office. The Act allows them; you need to substantiate them.
A US client may withhold tax. Sri Lanka has a treaty, but only if you claim the credit on the right schedule.
TaxWise estimates each installment from your live earnings.
TaxWise builds it from your transactions, with §11 substantiation logic.
| Expense | Typical value | Treatment |
|---|---|---|
| Co-working desk | Rs. 18,000/mo | Fully deductible if used wholly for work |
| Laptop (declared as asset) | Rs. 425,000 | Capital allowance: 33% × 3 years |
| Internet (home + mobile) | Rs. 9,200/mo | Apportioned: 60% work / 40% personal |
| Software subscriptions | Rs. 14,500/mo | Figma, Notion, Cursor, substantiated by invoice |
| Training & courses | Rs. 92,000/yr | If directly related to current freelance work |
| Travel to client meetings | Rs. 28,400/yr | Local mileage at IRD-prescribed rate |
Create your free account and prepare your return in under twenty minutes. No credit card required.
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