ELIGIBLE SERVICES PROVIDERS
This Account can be opened by the following
Any individual resident in Sri Lanka, any resident company or partnership registered in Sri Lanka, rendering services while based in Sri Lanka to any person resident outside Sri Lanka, in the course of carrying on any profession or occupation. (Professional Services are defined in attached schedule 1)
Individuals employed by the eligible services providers referred in (1) above on permanent or contractual basis who have entered into agreements with such services providers.
OPENING OF ACCOUNTS
Accounts under this scheme should be opened only in the domestic banking unit, and should be in the form of current, savings or Term Deposits in designated Foreign Currency
A letter from the Commissioner General of Inland Revenue confirming that the employer is qualified for income tax exemptions under Inland Revenue Act No. 10 of 2006 as amended.
A letter from an employer that the employee is directly involved in projects carried out by the employer which are exempt under the Inland Revenue Act No. 10 of 2006 (hereinafter referred to as "Exempt Projects") and is paid for his services in foreign currency received from those projects.
Proceeds received (on account of International Services Provided) from abroad through banking channels in designated foreign currency
Employment income paid out of foreign currency received by an employer for Exempt projects
Interest accruing on the funds held in the account.
Payment in foreign currency in the form of bank transfers to employees directly involved in Exempt Projects carried out by the employer.
Payments in foreign currency favouring beneficiaries overseas for current transactions only.
Withdrawals in Sri Lanka Rupees.
Professional Services for the Purpose of the Directions Ref: No 06/04/05/2010
For further assistance, contact:
|Contact||:||Mr Dinesh Fernando
Executive - Foreign Currency Deposit Mobilization & Outward Remittances
|Telephone||:||00 94 11 2661996|
|Fax||:||00 94 11 2662798|