FBR Dispels Misleading Info About Currency Declaration Requirements

Incoming and outgoing travelers from Pakistan should declare their possessions as per international laws and FATF rules, and no such new restriction is imposed on any kind of traveler. A simple form has been introduced at airports just recently, clarifies the Federal Board of Revenue (FBR).

According to the Federal Board of Revenue (FBR), a misleading impression has been created in some sections of the press that Pakistan has recently imposed currency declaration requirements for passengers coming into Pakistan, which is contrary to the facts.

The mandatory requirement for passengers coming into Pakistan and bringing currency and/or negotiable instruments was notified by the State Bank of Pakistan (SBP) more than ten years ago vide notification no. F.E.1/2012-SB dated 16 June 2012. This requirement came into force on 01 July 2012.

Subsequently, 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 29 June 2019. These rules cover both 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 manually at the Customs counter or electronically in the Customs System.

To increase awareness amongst international passengers, Pakistan Customs has been collaborating with the Civil Aviation Authority, Airlines, and Immigration Authorities to improve its outreach to both departing and arriving passengers. As a result, compliance has been steadily increasing.

FBR has further reiterated that the currency declaration regime for all international passengers has been in place for more than a decade, rather than being recently introduced on account of any recent FATF review requirements.

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