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Minister of Finance, K.N. Choksy told the Sunday Observer yesterday, that the claim made in Parliament by members of the Opposition that the Budget has imposed a 15 percent tax on remittances into wages earned by Sri Lankan migrant workers was incorrect.

The Finance Minister said: "The correct position under tax laws, is that, if a Sri Lankan resides and works abroad for over one year, such a person is not liable to pay any Sri Lankan income tax. However, if the period is under one year then, remittances of wages earned abroad into Sri Lanka attracts personal taxation going up to 30 percent.

The proposal made in the budget results in Sri Lankans who have worked less than one year, and remitted their wages into Sri Lanka - will be taxed at only 15 percent. This is a benefit to them and also an incentive to remit their wages back to Sri Lanka. "However, migrant workers who are registered with the Labour Department will be fully exempt and not pay any tax.

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