Sri Lanka, July 24 -- Under the new regulations for Telegraphic Transfer (TT) transactions in Sri Lanka, goods must be imported and clear Customs within 180 days of remittance. This rule was introduced via the Imports and Exports (Control) Regulations Act No. 06 of 2026 to prevent illegal capital outflows through phantom or fake imports, Economic Development Deputy Minister Nishantha Jayaweera told Parliament yesterday (23).

Importers seeking to make advance payments for goods via TT must register with Sri Lanka Customs beforehand and banks are legally barred from processing advance payments for unregistered entities.

If the matching Customs declaration and commercial invoice proving the arrival of goods are not submitted within 180 da...