Pakistan Revenue
Karachi, September 11, 2023 – Pakistan has witnessed a substantial decline in workers’ remittances, with inflows plummeting by over 21 percent during the first two months of fiscal year 2023-24.
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Karachi, August 10, 2023 – The State Bank of Pakistan (SBP) has reported a significant drop in remittances from Pakistani workers in the United Arab Emirates (UAE) during the month of July 2023, revealing a concerning decline of 31 percent compared to the same period in the previous year.
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Karachi, July 10, 2023 – Workers’ remittances flowing into Pakistan have experienced a significant decline of around 14%, amounting to $24.02 billion in the fiscal year 2022-23, according to official data released by the State Bank of Pakistan (SBP) on Monday.
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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.
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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.
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Pakistan has witnessed an 11% decline in remittances during the first nine months (July-March) of fiscal year 2022/2023 to $20.53 billion.
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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.
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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.
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KARACHI: Careem has launched pay services for money transfer from UAE to Pakistan, according to a statement issued on Wednesday.
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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 […]
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