CBSL refutes speculation that expatriate Sri Lankans’ remittances to Sri Lanka are taxed

The Central Bank of Sri Lanka (CBSL) announces that speculation that expatriate Sri Lankans’ remittances to Sri Lanka have been taxed and forcibly converted into Sri Lankan rupees is completely unfounded. 

“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 tweeted.

Expatriate Sri Lankans continue to enjoy the current incentives without any change whatsoever, the CBSL further said.