Vehicle import licences issued to Lankans who sent remittances through transparent system

318 electric vehicle licences have been issued

Country has received more than US$ 38 million

No duty relief, but additional revenue for the Government

The Labour and Foreign Employment Ministry emphasized that the initiative to encourage Sri Lankans abroad to send remittances through banks by introducing licences to import electric vehicles was conducted with full transparency, and the initiative was a successful attempt to increase the remittance earnings of the country.

According to the Ministry’s official data, US$ 4.3 billion was received in the first nine months of this year, and foreign remittances from Sri Lankans living abroad have surged by 75% compared to the previous year.

So far, 318 electric vehicle import licences have been issued to Sri Lankans who have sent remittances to Sri Lanka through legal channels, and US$ 38 million has been received for importing vehicles.

The vehicle import licences issued under this initiative are not exempt from import duty, and the initiative is a Cabinet decision in line with the aim of encouraging Sri Lankans abroad to send remittances through legal channels. All imported vehicles are required to pay the full customs duty and other taxes levied by the Customs Department, contributing to State revenue.

The Minister also invited all institutions and associations involved in the vehicle import business, including the Vehicle Importers’ Association, to join this programme at the beginning of this initiative.

The interference of Parliament and the committees of Parliament in business matters related to vehicle importers is regrettable, and we strongly condemn the use of Parliament and its committees for such business matters.

Those presenting untrue information solely to gain media attention without investigating the facts should realize that such statements would negatively affect the steps taken to recover the economy.

This step, taken with the aim of increasing remittance earnings of the country, has been implemented with full transparency, and the Ministry will provide full support to conduct a thorough investigation.

The Ministry strongly emphasizes that all possible steps will be taken to increase remittance earnings, and narrow political objectives cannot reverse these initiatives.

The post Vehicle import licences issued to Lankans who sent remittances through transparent system appeared first on DailyNews.