Wednesday Nov 13, 2024
Wednesday Nov 13, 2024
Wednesday, 5 April 2023 00:00 - - {{hitsCtrl.values.hits}}
In a bid to boost foreign remittances, the Government has decided to increase the duty-free allowances for migrant workers at the airport starting from 1 May.
Holding a special media conference, Labour and Foreign Employment Minister Manusha Nanayakkara yesterday said the increase of the duty-free allowance will however, be based on the amount of money remitted by the migrant workers during the past one year.
“These concessions will be implemented under five categories and migrant workers who have remitted foreign exchange earnings through official channels or the banks within last year,” he added at the Labour and Foreign Employment Ministry premises.
As per the Minister, expatriates who have remitted within $ 2,400 to $ 4,799 can get an additional duty-free allowance of $ 600, whilst those who have remitted within $ 4,800 to $ 7,199 will be eligible for an additional duty-free allowance of $ 960 and those who have remitted within $ 7,200 to $ 11,999 will receive an additional duty-free allowance of $ 1,440. Migrant workers who have remitted within $ 12,000 to $ 23,999 are eligible for an additional $ 2,400 duty-free allowance and workers who have remitted $ 24,000 or more are eligible for an additional $ 4,800 duty-free allowance when purchasing goods at the airport.
He assured that no tax will be charged on foreign worker remittances and money held in banks in the form of foreign exchange.
“We prepared a program to give due respect and proper treatment to the expatriate workers who had contributed immensely to boost our official reserves. We opened a dedicated entrance for migrant workers called ‘The Hope Gate’ at the airport. Similarly, we implemented a program urging them to send $ 500 million each month to revive the economy.
“We got Cabinet approval to allow migrant workers to import an electric vehicle, gave housing loans, and more tax concessions. Against this backdrop, the country received $ 7 billion from remittances last year,” he explained.
Minister Nanayakkara also said the Government is taking every possible step to ensure that each dollar remitted by the migrant workers is put to good use for the country.
“To ensure good governance, the Anti-Corruption Act is being introduced. A Productivity Commission will be formed and from now on, we will stop spending money to build towers according to political needs. Investments are made only after paying attention to the effectiveness of those investments. No tax is charged from migrant worker remittances and the money held in the banks in the form of foreign exchange,” he said.
The Central Bank Director Dr. B.H.P.K. Tillakaweera and officials of the Sri Lanka Customs Department and representatives of commercial banks were also present at the occasion.
