CBSL says no taxes on expatriate remittances

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The Central Bank of Sri Lanka has countered a disinformation campaign that it would be imposing taxes on inward remittance from expatriates.

The CBSL also denied that it would forcibly convert their remittances into Sri Lankan rupees.

“There are no taxes on remittances and expatriated Sri Lankans are free to hold such remittances in foreign currency form in their bank accounts or convert such remittances into Sri Lankan rupees at their discretion,” the Central Bank said in an advertisement placed in Sunday newspapers and tweeted.

CBSL said that expatriate Sri Lankans continue to enjoy the current incentives without any change whatsoever.

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