The Central Bank of Sri Lanka (CBSL) in a clarification statement issued yesterday, said it has observed that a certain media institution has reported on their website and SMS Alert that “the Governor of CBSL announced that a tax will be imposed on interest gained on Non-Resident Foreign Currency (NRFC) Accounts under the new Inland Revenue Act”.
The CBSL stated that the Governor did not make such an announcement, but stated at the monetary policy press conference held yesterday (26) at its head office, in response to a question from the media, that under the new Inland Revenue Act, only residents will be taxed on their interest income and not NRFC Accounts.
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