Many of the Sri Lanka youth are currently working online and earning money. They are engaged in earning money in foreign currency which is a income to the country. Currently many of the youth are having a issue when withdrawing these payments to their local bank accounts since may sites who make payments required a debit card and payments are mainly remitted via PayPal. PayPal is currently not recognized by Sri Lankan Banks as there is no directive from the Central Bank of Sri Lanka.

PayPal is a world famous payment processing company such as Visa & Master. Since these are inward remittance to Sri Lanka this is a boost to the local economy hence should not be treated as Taxable income.

Banks are currently charging from the Youth and earning a income on the side for processing these PayPal payments received via Visa to debit cards (Since most youth are not able to obtain a credit card). At times there are holding on to the payments without crediting to the counts and earning a interest also.

Our humble request from Central Bank of Sri Lanka is to allow PayPal payments to any account in Sri Lanka without any charge is this is a income to the country and allow real-time update to Debit cards via banks.

Please view this as a request to improve Sri Lankan Economy and issue new guidelines to the Banks of Sri Lanka...