Tuesday, July 21 2026
Tuesday, July 21 2026
Banks would also be required to report tax payer ID numbers and VAT registration numbers to Customs for all transactions
Banks also have to assign unique transaction codes for each transaction.
Foreign exchange can no longer be sold for imports to a customer who is not registered with customs already.
Public Security Minister Ananda Wijepala told parliament on June 09, that authorities were probing companies that had made advance payments purportedly for imports, but no goods had arrived in the country.
The companies had later been wound down.
A senior banker told MonetaBrief that banks require Customs Documents to be submitted after reasonable period of a remittance being made. If Cusdecs are not submitted, they stop issuing fx.
However they may be moving to another bank and trying the same tactic.
Sri Lanka has exchange controls due to the central bank printing money, and people use unorthodox methods to send money out of the country.
Very import duties are also promoting under-invoicing.
The way to eliminate such frauds is not to impose fresh controls, but remove the exchange controls and hold the central bank accountable for sound monetary policy, observers say.
Download the full gazette here
The gazette requirements are as follows:
All banks shall assign a unique number to each transaction and shall forthwith notify the Sri Lanka Customs Department of all information, including –
a) Valid Taxpayer Identification Number (TIN) of the respective remitter (importer);
b) Address of the remitter (importer);
c) Address of the beneficiary;
d) Account number of the beneficiary;
e) Bank code;
f) Branch code;
g) Type of currency and amount;
h) Terms of payment;
i) Terms of delivery;
j) Date of remittance;
k) Proforma invoice number; and
l) Description of goods
regarding each transaction relating to, or made under, the number so assigned.
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