Workers remitting USD allowed duty relief to bring an electric vehicle
The Cabinet of Ministers has granted consent to the proposal made by Labour and Foreign Employment Minister Manusha Nanayakkara to allow electric vehicles to be imported by migrant workers who remit foreign exchange via official banking channels.
Speaking to the media yesterday at the weekly Cabinet media briefing held yesterday at the Government Information Department, Minister Nanayakkara said that the Sri Lankan migrant workers who send dollars to the country and Sri Lankans living abroad are allowed to import electric vehicles.
He further said that the duty relief at the airport will also be increased from 1,750 US dollars to 6,550 US dollars. Import of an electric vehicle is permitted if 3,000 US dollars is remitted.
Minister Nanayakkara stated that this decision has been taken after considering the fact that with the money sent by foreign workers at this difficult time, the country was able to get dollars to make certain purchases.
“There was a decrease in the amount of money sent in the past, but there is an increase in July. We were able to buy oil, gas and medicine because of this money. That is why we made a request to give them the support you can to solve the problem in the country,” he said. While some sent money through methods such as Undial Hawala, the people who love the country sent their Dollars, Yen and Dinars through banks themselves. The basic needs of the people of this country could be fulfilled with those dollar reserves. Therefore, with the full agreement of the Cabinet, our Ministry, the Finance Ministry and the Central Bank together made a proposal to the Cabinet to increase the remittances.
A person who has been abroad for so long and stayed for less than 90 days was entitled to a duty relief of one hundred and eighty seven dollars and fifty cents upon his return to Sri Lanka. One year is six hundred and twenty five dollars. If more than one year, one thousand seven hundred and fifty dollars. This relief is available whether dollars are sent to Sri Lanka or not.
While this duty concession remains as it is, if at least two thousand four hundred dollars have been sent to the country in less than ninety days, the duty concession will be increased by six hundred dollars to seven hundred and eighty seven dollars under the silver category. If it is one year, one thousand two hundred and twenty five and if it is more than two thousand three hundred and fifty dollars, the duty concession is entitled.
“If four thousand eight hundred dollars have been sent, it will be 1,175, 1,585 and 2,710. If 7,200 have been sent, it will increase to 1,627, 2,065, 3,190. If at least 12000 dollars have been sent, under the Gold Plus category, you will get a duty relief of 2,587, 3,025 and 4,150 dollars. If you send 24000 per year, it will increase by 20% and increase by 4,800 dollars. Accordingly, the duty relief will be at least 4,985, 5,425 and 6,550 dollars. But the maximum ever found was only 1,750.” he added. The second proposal is to send any foreign money to Sri Lanka through a bank and give a license to import vehicles to any Sri Lankan.
With the current situation in the country, vehicles are not allowed to be imported to Sri Lanka in any way. That is why a vehicle import license is introduced for foreign workers as the second proposal.
Here, if you have sent more than 3,000 dollars to your own or a relative’s account through a bank, they can buy an electric motorcycle for half of the money sent. US$ 3000 is the lowest value. This permission is not available for three-wheelers. Accordingly, electric vehicles are allowed to be imported from USD 20,000 to a maximum of USD 65,000. These imported vehicles should be in the running range of 300-500. It has to be charged by the solar power system and it has to be prepared or imported by oneself. These vehicles are not allowed to be charged by the national system. This is expected to achieve the main objectives of increasing the import of dollars into the country and reducing the withdrawal of dollars abroad, without affecting the mainstream and protecting the environment. The cycle oil for that will be released in the near future.