COLOMBO – The Central Bank of Sri Lanka noted that the speculation that expatriate Sri Lankans’ remittances to the country are taxed and forcibly converted into Sri Lankan Rupees is completely unfounded.
In a statement, it added that there are no taxes on remittances, and expatriate Sri Lankans are free to hold such remittances in foreign currency form in their bank accounts.
They can also convert such remittances into Sri Lankan rupees at their discretion, said the Central Bank.
It added that expatriate Sri Lankans can continue to enjoy the current incentives without any charge whatsoever.
