Karachi, September 10, 2023 – Pakistan has taken decisive action against individuals engaged in illegal currency operations, arresting approximately 59 people involved in the clandestine world of hawala and hundi. The arrests were announced by Caretaker Interior Minister Sarfaraz Ahmed Bugti during a press conference held on Sunday.
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Pass Track launched for currency declaration at Pakistani airports
ISLAMABAD: Pakistan Customs has launched a mobile application namely ‘Pass Track’ for online currency declaration for incoming and outgoing foreign passengers from / to the country.
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Customs launches operation against illegal cross-border foreign currency movement
ISLAMABAD: Pakistan Customs has launched operation against illegal cross-border movement of foreign currency and other valuables.
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Preventing currency smuggling top priority: FBR Chairman
ISLAMABAD: Asim Ahmad, Chairman, Federal Board of Revenue (FBR) has said that prevention of currency smuggling is top priority of Pakistan Customs.
The FBR chairman identified top priority arrears of the government to combat smuggling of currency, vehicles, and goods. Besides, prevention of mis-invoicing was also one of the top priorities, he added.
READ MORE: FBR collects Rs459 billion as sales tax on POL products in TY 2022
Asim Ahmad, Chairman, addressed the inaugural session of the quarterly coordination and performance review conference held recently of the Regional Directors of the Directorate General of Intelligence & Investigation-Customs; an important arm of the FBR.
The Chairman made it very clear that the Directorate General, I&I-Customs, had the capacity and competence to come up to the expectations with respect to each of these priority areas.
READ MORE: WHT share in direct taxes jumps to 67% despite omitting provisions
He assured the Director General, Faiz Ahmad Chadhar, that all possible resources required to achieve the desired results will be provided by FBR.
During the 12 hours long conference, each Regional Director gave a detailed presentation on the performance in the first quarter of FY 2022-23.
It covered major challenges hindering achievement of organizational goals, methods of information gathering, gaps in human resource and logistics as well as suggestions for further improvement.
READ MORE: Pakistan amends baggage rules; now $1,000 require declaration
In his closing remarks, the Director General directed the Regional Directors to focus on mis-invoicing not only in imports but also in exports, mis-use of exemption regimes, variation in pattern of transit trade viz a viz national imports and improving vigil along the borders.
He underscored the importance of improved liaison of the officers of Directorate General of I&I-Customs with national law enforcement agencies including Police, Rangers, FC, ANF, Provincial Excise Departments, other national intelligence agencies, and District Administration.
READ MORE: PTBA raises objections to amendments proposed by FBR
He also highlighted the need of coordination with the Chambers of Commerce and other trade bodies to have first-hand knowledge about their issues and grievances.
The Director General further emphasized that meeting the targets and expectations of FBR and the Federal Government with respect to smuggling, money laundering, and mis-invoicing will lead to creation of an enabling environment in the country for economic growth and investment.
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Pakistan makes currency declaration must at air ticket booking
KARACHI: Pakistan has made it must for all international air passengers to declare foreign currency at the time of ticket booking.
The country has taken the decision to comply with the conditions of Financial Action Task Force (FATF) for preventing money laundering and terror financing.
READ MORE: Pakistan launches online currency declaration
Sources in Civil Aviation Authority of Pakistan (CAA) told PkRevenue.com on Thursday that all the passengers intending to go abroad are required to declare currency at the time of booking the international air ticket.
For outbound flights, airlines may also direct their staff/travel agents to ensure that they provide a copy of the declaration at the time of booking of ticket.
READ MORE: FPCCI suggests amnesty for cryptocurrency declaration
“At check-in counters, airlines are directed to issue boarding pass only once the passengers have deposited the declaration with them,” according to a statement issued by the CAA.
It further said that Pakistan Customs are required to deploy their staff along with airline staff to supervise/assist the passengers at the dedicated facilitation counter inside the check-in hall.
The airline staff will collect the declarations and hand over the same to the customs staff after the closure of the flight along with the passenger’s manifest.
READ MORE: FPCCI demands reducing income tax slabs to five
For Inbound Flights, airlines are required to ensure in-flight announcement by the flight crew for every inbound flight for submission of subject declaration wherein the passengers will mention the currency under the regulatory requirements of FATF.
The airline crew will distribute the declaration during the flight to all the passengers, irrespective of their nationality. The said declaration will be deposited at the customs counter before the immigration desks at International Arrival.
CAA will provide space and counters for the collection of all declaration forms.
READ MORE: FBR tightens monitoring to prevent currency smuggling
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Customs foils bid to smuggle Qatari Riyals
ISLAMABAD: Pakistan Customs has foiled a bid to smuggle Qatari Riyals worth $38,500 at Peshawar Airport, a statement said on Monday, May 16, 2022
Pakistan Customs has seized Qatri Reyals worth $38,500 at Peshawar Airport. A passenger named Imran Khan, Passport No. 1570-65304-1 resident of Dir Upper was departing for Qatar via Qatar Airlines, on May 15, 2022 (Sunday) from Bacha Khan International Airport (BKIA), Peshawar.
READ MORE: FBR tightens monitoring to prevent currency smuggling
After giving him an opportunity to declare the currency at the Currency Declaration Desk established in the Departure Hall, his baggage was searched upon suspicion.
It led to the recovery of 1,46,000 Qatari Riyals being illegally smuggled out of Pakistan. He was asked to justify legal custody of the currency. However, he failed to do so. Therefore, the currency has been withheld and the accused has been arrested by the Customs staff at BKIA for further legal proceedings under the law.
READ MORE: Rupee falls for 8th straight day; dollar hits Rs192.53
Chairman FBR/Secretary Revenue Division, Asim Ahmad has commended the successful operation by the Customs team at BKIA and reiterated his unflinching resolve to fight the menace of currency smuggling across Pakistan.
READ MORE: Multan customs auctions smuggled diesel oil on May 18, 2022
It is also pertinent to mention that Chairman FBR has already issued special instructions to Customs Field Formations for stepping up vigilance at airports and land border stations to frustrate any attempts made for currency smuggling.
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FBR tightens monitoring to prevent currency smuggling
ISLAMABAD: The Federal Board of Revenue (FBR) has tightened monitoring to prevent currency smuggling in the wake of free-fall in rupee value against the foreign currencies.
A statement issued on Sunday stated that FBR Chairman Asim Ahmad had instructed customs field formations for stepping up vigilance to ensure monitoring of passengers to stop currency smuggling.
“Building further on its policy of zero tolerance against currency smuggling, Chairman FBR has instructed Customs field formations for stepping up vigilance at airports and land border stations. Concerned Collectorates to ensure monitoring of all inbound and outbound passengers,” according to a Tweet.
The US dollar has continued momentum of appreciation against the Pakistan Rupee (PKR) in the interbank foreign exchange market.
READ MORE: Rupee falls for 8th straight day; dollar hits Rs192.53
The rupee fell for the eight straight days to the record low of Rs192.53 to the dollar on May 13, 2022. The fall in rupee value may be attributed to fall in foreign exchange reserves and high payments for imports. However, some believed the unrecorded outflow of foreign currency also depressed the foreign exchange market.
Previously, the FBR on September 24, 2021 issued a clarification rebutting the reports of currency smuggling from Pakistan to Afghanistan.
READ MORE: FBR rebuts currency smuggling to Afghanistan
In the statement, the FBR categorically rebutted the unfounded, malicious intent and misleading in content propaganda being advanced by some irresponsible elements that there was a huge flight of dollars from Pakistan.
It is further clarified that previously the bilateral trade between Pakistan and Afghanistan was carried out in US Dollars but now the same is being conducted in Pak Rupees (PKR).
Furthermore, FBR has taken very stringent enforcement measures at the Airports to eliminate the possibility of any such an unethical practice.
Pakistan Customs has made it mandatory for all passengers flying out of the country to undergo thorough personal scrutiny and 100 per cent declaration of currency through an automated process in order to ward off this nefarious illegal activity. This leaves the little possibility of the subject undesirable practice.
READ MORE: Multan customs auctions smuggled diesel oil on May 18, 2022
It is most likely that Chairman FBR and Member (Customs Operations) will visit the Pak-Afghan border to oversee the functioning of the above mechanism on the ground.
It is further reiterated that this transparent and efficient mechanism being adopted at all the airports across Pakistan is facilitating the smooth and easy movement of outbound passengers, thus significantly reducing their time and cost.
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FBR rebuts currency smuggling to Afghanistan
ISLAMABAD: Federal Board of Revenue (FBR) strongly rebutted the reports of currency smuggling from Pakistan to Afghanistan.
In a statement issued on Friday, the FBR categorically rebutted the unfounded, malicious intent and misleading in content propaganda being advanced by some irresponsible elements that there was a huge flight of dollars from Pakistan.
It is further clarified that previously the bilateral trade between Pakistan and Afghanistan was carried out in US Dollars but now the same is being conducted in Pak Rupees (PKR).
Furthermore, FBR has taken very stringent enforcement measures at the Airports to eliminate the possibility of any such an unethical practice.
Pakistan Customs has made it mandatory for all passengers flying out of the country to undergo thorough personal scrutiny and 100 per cent declaration of currency through an automated process in order to ward off this nefarious illegal activity. This leaves the little possibility of the subject undesirable practice.
It is most likely that Chairman FBR and Member (Customs Operations) will visit the Pak-Afghan border to oversee the functioning of the above mechanism on the ground.
It is further reiterated that this transparent and efficient mechanism being adopted at all the airports across Pakistan is facilitating the smooth and easy movement of outbound passengers, thus significantly reducing their time and cost.
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Tax Amendment Ordinance: 14-year jail, penalty of ten time of value for currency smuggling
ISLAMABAD: The government has introduced very harsh penalties for offence of currency smuggling. The government enhanced the jail term to 14 years for currency smuggling above $200,000 besides ten time of value of the currency would be recovered as penalty.
Federal Board of Revenue (FBR) on Wednesday issued ‘Tax Laws (Second Amendment) Ordinance, 2019’ have been promulgated through the presidential order.
The following are the penal action for offences/smuggling introduced through the ordinance by amending Customs Act, 1969:
(a) If the amount of the currency over and above the permissible limit is up to $10,000 or equivalent in value (currency of other denomination) etc.
Such currency shall be liable to confiscation and any person concerned in the offence shall be liable to a penalty not exceeding the value of the excess amount of the currency.
(b) If the amount of the currency over and above the permissible limit is up to $10,001 to $20,000 or equivalent in value (currency of other denomination) etc.
Such currency shall be liable to confiscation and any person concerned in the offence shall be liable to a penalty not exceeding two times the value of the excess amount of the currency.
(c) If the amount of the currency over and above the permissible limit is $20,001 to $50,000 or equivalent in value (currency of other denomination) etc.
Such currency shall be liable to confiscation and any person concerned in the offence shall be liable to a penalty not exceeding three times the value of the currency; and upon conviction by a Special Judge he shall further be liable to imprisonment for a term not exceeding two years.
(d) If the amount of the currency over and above the permissible limit is $50,001 to $100,000 or equivalent in value (currency of other denomination) etc.
Such currency shall be liable to confiscation and any person concerned in the offence shall be liable to a penalty not exceeding four times the value of the currency; and upon conviction by a Special Judge he shall further be liable to imprisonment for a term not exceeding seven years.
(e) If the amount of the currency over and above the permissible limit is $100,001 to $200,000 or equivalent in value (currency of other denomination) etc.
Such currency shall be liable to confiscation and any person concerned in the offence shall be liable to a penalty not exceeding five times the value of the currency; and upon conviction by a Special Judge he shall further be liable to imprisonment for a term not exceeding ten years. Provided further that the sentence of the imprisonment shall not be less than three years.
(f) If the amount of the currency over and above the permissible limit exceeds $200,000 or equivalent in value (currency of other denomination) etc.
Such currency shall be liable to confiscation and any person concerned in the offence shall be liable to a penalty not exceeding ten times the value of the currency; and upon conviction by a Special Judge he shall further be liable to imprisonment for a term not exceeding fourteen years. Provided further that the sentence of the imprisonment shall not be less than five years.
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China gives four scanners to Pakistan Customs for preventing currency smuggling
ISLAMABAD – In a gesture of goodwill and cooperation, China has donated four advanced X-Ray scanners to the Pakistan Custom Wing of the Federal Board of Revenue (FBR).
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