Pakistan Revenue
ISLAMABAD: Federal Board of Revenue (FBR) on Thursday said that tax authorities will not ask source of foreign exchange not exceeding Rs5 million remitted through exchange companies (ECs) or money transfer operators. The FBR issued explanation to the Tax Laws (Third Amendment) Ordinance, 2021. The revenue body said Section 111(4) of Income Tax Ordinance, 2001 […]
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ISLAMABAD: State Bank of Pakistan (SBP) will launch incentives/ rewards for overseas Pakistanis on transactions of inward remittances. The SBP will launch a mobile phone application for overseas Pakistanis, which will offer incentives/rewards to overseas Pakistani against each remittance transaction in accordance under criteria. The above application will be formally launched towards the end of […]
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KARACHI: The inflows of workers’ remittances continued streak of over $2 billion for a record 13th consecutive month to reach historic annual high at $29.4 billion in 2020/2021, State Bank of Pakistan (SBP) said on Tuesday. The SBP said that with inflows of around $2.7 billion in June 2021 (9 percent growth (y/y) and 8 […]
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KARACHI: State Bank of Pakistan (SBP) on Monday reintroduced incentive scheme for banks to attract home remittances through formal channels. The SBP said that in order to further encourage promotion of home remittances through formal channels, the government of Pakistan has approved reintroduction of subject scheme with effective from July 01, 2021 to June 30, […]
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KARACHI: Foreign investors operating in the country have appreciated the significant improvement in the foreign exchange remittance processing time and in growing engagement of the State Bank of Pakistan (SBP) leadership with the key stakeholders.
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KARACHI: The inflow of workers’ remittances continued their exceptional streak in May 2021, remaining above $2 billion for a record 12th straight month, State Bank of Pakistan (SBP) said on Thursday. Remittances received during May 2021 amounted to US $ 2.5 billion, 33.5 percent higher than the same month last year. These were also higher than […]
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KARACHI: State Bank of Pakistan (SBP) on Tuesday said that the inflow of workers’ remittances rose to an all-time monthly high of $2.8 billion in April 2021, which is 56 percent higher than during the same month last year. On a cumulative basis, remittances have also surpassed previous records. At $ 24.2 billion in July-April […]
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ISLAMABAD: Economic Coordination Committee of the Cabinet (ECC) on Wednesday approved Rs10 billion for re-reimbursement of telegraphic transfer charges to the banks on home remittances. Federal Minister for Finance and Revenue Shaukat Tarin chaired the meeting. The Technical Supplementary Grants were approved by ECC in its meeting held on Wednesday: • Rs.10 billion for the […]
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KARACHI: The inflow of workers’ remittances has registered 26 percent growth to $21.47 billion during first nine months (July – March) 2020/2021, State Bank of Pakistan (SBP) said on Monday. The inflow of remittances was $17 billion during the same period of the last fiscal year. The SBP said that workers’ remittances extended their unprecedented […]
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KARACHI: The inflow of workers’ remittances has increased by 24 percent to $18.74 billion during first eight months (July – February) 2020/2021, according to data released by State Bank of Pakistan (SBP) on Thursday. The SBP received $15.104 billion as workers’ remittances during the same months of the last fiscal year. The inflows during the […]
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