Sunday, 26 May 2024
Tax Credits to Overseas Pakistanis

FBR Not providing tax concessions to Foreign Exchange Remittance Card holders

It has been disclosed that the Federal Board of Revenue (FBR) is not offering the facility of duty and tax credit and concessions on import of mobile phones and other imported items to the overseas Pakistanis who are holding Foreign Exchange Remittance Card.

Following numerous complaints on the Pakistan Citizen’s Portal. The Prime Minister’s Office took the notice of this practice of FBR’s Department. PM office directed to facilitate overseas Pakistanis in provision of this concession of customs duty and tax credit by the Customs Department of the FBR on the use of Foreign Exchange Remittance Card for the payment of taxes on imported goods.

In this regard, the Customs Department directed to deploy focal persons at all airports across the country. Those will deal with matters relating to the tax concessions on the use of Foreign Exchange Remittance Card by the overseas Pakistanis.

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The FBR has also directed heads of field offices of the Customs Department. To train and create awareness among the Customs personnel stationed at the airports.

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It must be remembered that Under the Baggage Rules 2006, the overseas Pakistanis have been given the facility of customs duty credit and concessions at the prevailing rate on every imported item on the use of Foreign Exchange Remittance Card for payment of duty and taxes on all items including mobile phones, except vehicles which they brought with them.

There is also a media news that a notification also demanded for the development and deployment of WeBOC module for the utilization of duty credit and to fast-track the process.

What is Foreign Exchange Remittance Card ?

A special facility of Foreign Exchange Remittance Card (FERC) was introduced by the Ministry of Finance in September 2001 to facilitate the overseas Pakistanis community. Overseas Pakistanis Foundation (OPF) has been nominated as the administrative authority.

Tax Concessions | Overseas Pakistanis | Foreign Exchange Remittance Card | Customs Department | Imported Goods | Mobile Phones | FBR | Federal Board of Revenue |

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