ISLAMABAD   -  The Federal Board of Revenue (FBR) on Sunday dispelled the misleading information regarding currency dec­laration requirements.

A misleading impression has been created in some section of the press that Pakistan has recently imposed currency declaration requirements for passengers coming into Paki­stan, which is contrary to facts. Un­like portrayed by some section of the press, the mandatory requirement for passengers coming into Pakistan and bringing currency and/or ne­gotiable instruments were notified by the State Bank of Pakistan (SBP) more than 10 years ago vide notifi­cation No FE1/2012-SB dated 16th June 2012. This requirement came into force on July 01, 2012.

Subsequently, in order to widen the scope of declaration to include gold jewelry, precious stones and other prohibited/restricted goods, Pakistan Customs also introduced a comprehensive “Customs Declara­tion Form for Passengers” which was notified vide SRO 689(I)/2019 dated 29th June, 2019. These rules cover both the incoming and outgoing pas­sengers. These requirements for dec­laration are in line with international standards and the best practices adopted by most of the countries in the world. The passengers can make the declaration either manually at the Customs counter or electroni­cally in the Customs System. In order to increase awareness amongst the international passengers, Pakistan Customs has been collaborating with the Civil Aviation Authority, Airlines, and Immigration Authorities to im­prove its outreach for both departing and arriving passengers. As a result, the compliance has been steadily increasing. The FBR has further reit­erated that the currency declaration regime for all international passen­gers has been in field for more than a decade, rather than being recently introduced on account of any recent FATF review requirements