Announcement

Repatriation of Export Proceeds into Sri Lanka

Summary

Updated on : 21-04-2021

EDB is pleased to notify all exporters that Repatriation of export proceeds into Sri Lanka rules No. 1 of 2021 issued by the Monetary Board of the Central Bank of Sri Lanka and published in the Gazette (Extraordinary) Notification No. 2215/39 on 18^th February 2021 as amended by the repatriation of export proceeds into Sri Lanka rules No. 2 of 2021 published in the Gazette (Extraordinary) Notification No. 2218/38 on 09^th March 2021, is hereby further amended by the repeal of rule 4 thereof and the substitution therefor, of the following new rule.

“4. Every exporter of goods shall, within thirty (30) days upon the receipt of such export proceeds into Sri Lanka as required under rule 3 above, convert Ten per centum (10%) from and out of the total of the said export proceeds received in Sri Lanka into Sri Lanka rupees, through a licensed bank.

provided, however, that such date of conversion, shall not be a date later than the date before which the export proceeds shall be received in Sri Lanka as required by rule 3 (i) above (i. e., not later than one Hundred and eighty (180) days from the date of shipment).”

Please visit the below link for more details.

https://www.srilankabusiness.com/announcements/#repatriation-of-export-proceeds-into-sri-lanka