Central Bank dispels rumors about remittances from migrant workers

(LANKAPUVATH | COLOMBO) – The Central Bank of Sri Lanka has issued a statement saying that the speculation that remittances sent by expatriate Sri Lankans to the country are taxed and forcibly converted into Sri Lankan Rupees is completely unfounded.

The Central Bank says there are no taxes on remittances and expatriate 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 Bank assures that the expatriate Sri Lankans continue to enjoy the current incentives without any change whatsoever.

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