The Federal Board of Revenue (FBR) has fixed a maximum limit of $5,000 (per visit) and $30,000 (annually) for outgoing international passengers (18 years and above).
The new annual maximum limit for taking out foreign currency by passengers would be applicable from 2023. The FBR issued SRO.2201(I)/2022 on Tuesday to amend Baggage Rules, 2006.
Previously, the FBR had issued SRO.2043(I)/2022 last month to introduce draft amendments to the Baggage Rules, 2006.
Under the amended baggage rules, any person travelling abroad (except to Afghanistan) is allowed to take out of Pakistan, US dollar or the equivalent thereof in other foreign currencies as per the limits given below:
Limit for Adults
The passenger of 18 years and above (adult) would be entitled to take $5,000 (or equivalent in other foreign currencies) under the maximum limit per person per visit. The annual limit per person in US dollars (or equivalent in other foreign currencies) has been fixed at $30,000.
Limit for Minors
The passenger below 18 years of age (minor) would be entitled to take $2,500 (or equivalent in other foreign currencies) under the maximum limit per person per visit. The annual limit per person in US dollars (or equivalent in other foreign currencies) has been fixed at $15,000.
For Passengers travelling to Afghanistan
The FBR has also prescribed foreign currency cash limits for passengers travelling to Afghanistan. The maximum limit per person visit (US dollar or equivalent in foreign currencies) has been fixed at $1000. The annual limit per person (US dollar or equivalent in other foreign currencies) has been fixed at $6,000.
Under the revised baggage rules, the annual limits for outbound passengers for the respective countries will be for the calendar year 2023. However, for the calendar year 2022, the existing annual limits in vogue before the issuance of this notification will continue to be effective till December 31, 2022.
Any person taking foreign currency or any other prohibited or restricted item out of Pakistan shall file a declaration, before or at the time of departure, electronically in the WeBOC or pass track or manually at the airport. The incoming passenger when in possession of foreign currency exceeding $10,000 or equivalent, or any other prohibited or restricted item, shall also file a declaration.
The new declaration has made it mandatory to declare carrying any of the following goods: prohibited or restricted goods such as arms and ammunitions, narcotics, psychotropic substances or satellite phones, gold and precious metals, jewelry, precious or semi-precious stones, foreign currency in US dollars for outbound passengers to all countries and incoming passengers bringing into Pakistan an amount exceeding $10,000 or equivalent and any other items requiring declaration before Customs.
