Central Bank requests Govt to tax export profits at 28-pct where forex is not repatriated & converted

Sri Lanka’s Central Bank requests the government to tax profits of exporters at 28 percent and not 14 percent where forex is not repatriated & converted.

Unveiling the Six-Month Road Map for Ensuring Macroeconomic & Financial System Stability, Governor Ajith Nivard Cabraal said that there will be specified limits.

Service related foreign exchange inflows will also be monitored to ensure repatriation and conversion of proceeds of service exports, and adhere to systems that monitor forex flows related to services.

The Central Bank has also decided to facilitate education and health related forex outflows immediately.

Related: Central Bank recommends complete repatriation of export proceeds within reasonable period