April 4, 2023
1 min read

Lanka to boost remittance inflows from migrant workers

Migrant workers’ remittance is one of the main sources of foreign exchange for the South Asian country….reports Asian Lite News

Sri Lanka is set to increase duty-free allowances for migrant workers at the airport starting from May in order to encourage remittance, Minister of Labour and Foreign Employment, Manusha Nanayakkara said.

The increase will be based on the amount of money remitted by the workers, Nanayakkara added on Monday during a media briefing.

Under the new scheme, there will be five categories of concessions, Xinhua news agency reported.

For people having remitted $2,400-$4,799, $4,800-$7,199, $7,200-$11,999, $12,000-$23,999 and $24,000 or more, they will be eligible for an additional duty-free allowance of $600, $960, $1,440, $2,400, and $4,800, respectively, when shopping at the airport, according to the Minister.

The concessions will be available to anyone who has sent the mentioned amount of money through official channels to the country within a year, the Minister said.

He added that no tax will be charged on foreign worker remittances and money held in banks in the form of foreign exchange.

Migrant workers’ remittance is one of the main sources of foreign exchange for the South Asian country.

ALSO READ: Lanka revises tourism goals

Previous Story

Chinese spy balloon collected data back to Beijing in real time: Report

Next Story

A grand homecoming for Chennai Super Kings

Latest from -Top News

American missionary abducted in Niger

The US Embassy in Niamey issued a security alert warning that American citizens “remain at a heightened risk of kidnapping throughout Niger, including in the capital city”…reports Asian Lite News An American

Ouattara predicted to win fourth term

Around 8.7 million Ivorians were registered to vote, though analysts had predicted a lower turnout compared with the last two elections, when participation slightly exceeded 50%…reports Asian Lite News Votes were being

Russia Fires at EU

Zakharova called the sanctions package “illegal” and “self-destructive”, while accusing Brussels of isolating itself on the international stage…reports Asian Lite News Russia’s Foreign Ministry Spokeswoman Maria Zakharova has slammed the European Union’s

Mamdani Hits Back at Racism

Mamdani criticised rivals for spreading “hatred,” saying their Islamophobia harms him and nearly one million Muslims in New York….reports Asian Lite News New York City mayoral candidate Zohran Mamdani on Friday delivered
Go toTop

Don't Miss

Chris Silverwood appointed Head Coach of Sri Lanka

Silverwood represented England in six Tests and seven ODIs and

Lanka steps up efforts to woo tourists

The Minister said that the country had earlier offered a