Saturday, 3 January 2009

Sri Lanka to give incentives for foreign remittances

Sri Lanka will give incentives to expatriate citizens to bring their saving home in the form of higher interest rates and lower taxes, Central Bank Governor, Ajith Nivard Cabraal said.

Authorities were also planning to offer an additional ‘bonus interest’ to increase the interest income provided by commercial banks to foreign currency account holders.

They (migrant workers) are encouraged to bring their savings by paying a “reduced tax as the final income tax if some inflows are subject to payment of income tax,” he said

Courtesy: Government Information Department


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