Sri Lanka tightens import remittance regulations (opens original article in a new tab)

Sri Lanka has implemented stricter regulations on import-related remittances, requiring banks to provide detailed transaction data to Customs and importers to register before making advance payments.

• Sri Lanka introduces new regulations to monitor outward remittances for import transactions.
• Banks must assign unique IDs to remittance transactions and provide detailed info to Sri Lanka Customs.
• Importers must register with Customs before making advance payments for imports.