In a significant development, the Federal Board of Revenue (FBR) has introduced an amendment through the Finance Bill, 2023, indicating that it may not scrutinize foreign inflows up to $100,000 in a year.
Pakistan is likely to relax the limit to disclose foreign exchange in local currency under tax laws after experiencing a significant depreciation in the local currency over the past few years.
Pakistan has witnessed an 11% decline in remittances during the first nine months (July-March) of fiscal year 2022/2023 to $20.53 billion.
State Bank of Pakistan
KARACHI: Inflows of workers’ remittances recorded a decline of 11 per cent in eight months (July – February) of fiscal year 2022-2023, according to data released by the State Bank of Pakistan (SBP) on Friday.
State Bank of Pakistan
KARACHI: The inflow of workers remittances declined by 11 per cent in first half (July – December) of fiscal year 2022-2023, according to data released by State Bank of Pakistan (SBP) on Friday.
KARACHI: Careem has launched pay services for money transfer from UAE to Pakistan, according to a statement issued on Wednesday.
KARACHI: Pakistan has registered around 10 per cent decline in inflows of foreign remittances during first five months (July – November) of current fiscal year. According to data released by State Bank of Pakistan (SBP) on Wednesday, the inflows of workers remittances declined to $12 billion during first five months of the current fiscal year […]
State Bank of Pakistan
KARACHI: Inflow of workers remittances has declined by 15.7 per cent in the month of October 2022 when compared with the same month of the last year, according to data released by State Bank of Pakistan (SBP) on Friday. READ MORE: Home remittances decline to $7.68 billion in 1QFY23 The inflows of home remittances fell […]
State Bank of Pakistan
KARACHI: Inflow of home remittances has slipped by 6.34 per cent to $7.68 billion during first quarter of the current fiscal year 2022-2023, according data released by the State Bank of Pakistan (SBP) on Tuesday. The inflow of remittances was $8.2 billion in the corresponding quarter of the last year. READ MORE: Pakistan remittances from […]
State Bank of Pakistan
KARACHI: State Bank of Pakistan (SBP) has advised banks to issue digital verification for proceeds realization certificate (PRCs) against remittances.