ISLAMABAD: The Federal Board of Income (FBR) has imposed a brand new restriction on the incoming worldwide passengers to declare overseas foreign money of US $10,000 or above on the time of arrival on the airports.

On this connection, the FBR has issued a draft of the brand new Customs Declaration kind for the incoming worldwide passengers for declaration of the overseas foreign money of US $ 10,000 or above.

The FBR has issued an SRO1751(I)/2022 right here on Tuesday to amend the Baggage Guidelines, 2006.

Presently, incoming passengers are required to make a overseas foreign money declaration, no matter the quantity.

In response to the brand new Customs Declaration for passengers, in case of accompanied baggage, the outbound passenger who’s in possession of overseas foreign money exceeding US $ 5,000 or equal, another prohibited or restricted merchandise or another merchandise requiring declaration earlier than Customs, shall file a declaration within the Type as set out in Appendix-C, earlier than or on departure, electronically within the WeBOC or manually on the airport.

Incoming worldwide passengers: No new foreign money declaration regime launched: FBR

Equally, the incoming passenger who’s in possession of overseas foreign money exceeding US $ 10,000 or equal, another prohibited or restricted merchandise or another merchandise requiring declaration earlier than Customs, shall file a declaration within the Type as set out in Appendix-C.

The declaration requested the passengers to declare are you carrying any of the next items: Prohibited or restricted items similar to arms and ammunitions, narcotics, psychotropic substances or satellite tv for pc telephones and many others; gold and treasured metals, jewellery, treasured or semi-precious stones; overseas foreign money in US $ or equal; for outbound passengers with quantity exceeding US $ 5,000 or equal and incoming passengers having quantity exceeding US $ 10,000 or equal and another objects requiring declaration earlier than Customs.

Earlier, the FBR had clarified that the necessary requirement for passengers coming into Pakistan and bringing foreign money and/or negotiable devices was notified by the State Financial institution of Pakistan greater than 10 years in the past vide notification no FE1/2012-SB dated sixteenth June 2012. This requirement got here into drive on July 1, 2012.

Subsequently, to be able to widen the scope of declaration to incorporate gold jewellery, treasured stones and different prohibited/restricted items, Pakistan Customs additionally launched a complete “Customs Declaration Type for Passengers” which was notified vide SRO 689(I)/2019 dated twenty ninth June 2019. These guidelines cowl each incoming and outgoing passengers.

These necessities for declaration are according to worldwide requirements and the very best practices adopted by many of the international locations on this planet. The passengers could make the declaration both manually on the Customs counter or electronically within the Customs System. To be able to improve consciousness amongst worldwide passengers, Pakistan Customs has been collaborating with the Civil Aviation Authority, Airways, and Immigration Authorities to enhance its outreach for each departing and arriving passengers. In consequence, compliance has been steadily rising.

The FBR has additional reiterated that the foreign money declaration regime for all worldwide passengers has been within the discipline for greater than a decade, reasonably than being lately launched on account of any latest FATF assessment necessities.

Copyright Enterprise Recorder, 2022