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ISLAMABAD: The Federal Board of Revenue (FBR), Tuesday made it mandatory for outgoing international passengers to declare foreign currency of US$5,000 or above at the time of departure at the airports.

Through an SRO1864 (I)/2022 issued on Tuesday, the FBR has also made it compulsory for incoming passengers to declare foreign currency exceeding US $ 10,000 or equivalent.

Under the amended baggage rules, the persons travelling to Afghanistan, while having entitlement of US$1,000, shall file a declaration of currency in their possession.

The FBR has issued SRO 1864(I)/2022 to amend the Baggage Rules, 2006, here on Tuesday.

According to the revised baggage rules, the outbound passenger, for all countries except Afghanistan, without prejudice to his entitlement of taking out of Pakistan 1,000 US $ up to the age of five years, 5,000 US $ above five years up to 18 years, and 10,000 US $ above the age of 18 years, while taking out of Pakistan foreign currency exceeding US $ 5,000 or equivalent, or any other prohibited or restricted item, shall file a declaration in the Form as set out in Appendix-C, before or on departure, electronically in the WeBOC or pass track or manually at the airport.

The persons travelling to Afghanistan, while having entitlement of 1,000 US $, shall file a declaration of currency in their possession, in the Form as set out in Appendix-C.

Incoming international passengers: No new currency declaration regime introduced: FBR

The incoming passenger when in possession of foreign currency exceeding US $ 10,000 or equivalent, or any other prohibited or restricted item, shall also file a declaration in the Form as set out in Appendix-C, it added.

The declaration asked the passengers to declare are you carrying any of the following goods: Prohibited or restricted goods such as arms and ammunitions, narcotics, psychotropic substances or satellite phones, etc; gold and precious metals, jewellery, precious or semi-precious stones.

Foreign currency in US $/Bearer Negotiable Instrument or equivalent: For outbound passengers to all countries except Afghanistan, taking out amount exceeding US $ 5,000 or equivalent; for passengers travelling to Afghanistan, taking out cash foreign currencies US $ or equivalent; and incoming passengers bringing into Pakistan amount exceeding US $ 10,000 or equivalent, the declaration added.

Copyright Business Recorder, 2022


Comments are closed.

I think govt should encourage bringing in foreign currency in the country by expatriates, rather than discouraging them and putting a limit.
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MALIK DAOUD KHAN Oct 12, 2022 02:48pm
A backward step by Pakistan. There should be no currency controls. Then people like me would invest. Millions. Currency control is the hallmark of incompetent governments worldwide.
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Abdullah Oct 12, 2022 07:09pm
Well, the countrymen need to learn from our smart, intelligent, resourceful and most sincere leadership on how to abide by the laws and regulations of the country pertaining to all matters including money and foreign currency matters.
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Masood Oct 13, 2022 01:28pm
There is no limit placed to bring in the money. It is simply to declare how much is brought in to country. So that it is not used for illegal activities. What is wrong in it. This is FATIF requirement.
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