ISLAMABAD: The government has enhanced the limit for filing of declaration of currency to facilitate inward and outward passengers.
In the earlier rules, it was mandatory for inward passengers to file declaration for even a dollar, which under the new rules has been enhanced to $10,000. Similarly, outward passengers were required to file declaration in case of $50 or above, which has now been enhanced to $5,000.
The move is aimed at facilitating the travellers and bring the domestic laws in compliance with the best practices prevalent in developed and developing countries.
Under the new customs SRO1864 issued by the Federal Board of Revenue on Tuesday, passengers would have to take special permission from the State Bank of Pakistan (SBP) to take more than $1,000 to Afghanistan. The per year ceiling is $6,000 for outgoing passengers to Afghanistan.
As per the notified procedures, only the amounts exceeding $10,000 for incoming passengers and $5,000 for outgoing passengers are required to be declared. These requirements for declaration are in line with international standards and the best practices adopted by most countries.
An outbound passenger for all countries, except Afghanistan, without prejudice to his entitlement of taking out of Pakistan $1,000 up to the age of five years, $5,000 above five years and up to 18 years and $10,000 above the age of 18 years, while taking out of Pakistan foreign currency exceeding $5,000 or equivalent, or any other prohibited or restricted item, is required to file a declaration in the form as set out in Appendix-C.
Appendix-C will be filed before or on departure, electronically in WeBOC or pass track or manually at the airport. The persons travelling to Afghanistan, while having entitlement to carry $1,000, will file a declaration of currency in their possession in the form.
The incoming passenger, when in possession of foreign currency exceeding $10,000 or equivalent, or any other prohibited or restricted item, will also file a declaration in the form as set out in Appendix-C.
Member Customs Mukarram Jah Ansari told Dawn that the new SRO would make Pakistan’s currency declaration regime more user friendly. Previous regulations, he said, required a declaration even if a small amount was being brought in or taken out. He said the new system is in line with the central bank regulations.
For declaration, the limit for India is $5,000 per person and that for the United Kingdom is 10,000 pounds for taking in and taking out cash.
The declaration forms are available online. No one will be checked while passing through the green channels at airports after filing the declaration.
Parliament has empowered the SBP to monitor and regulate the currency regime in the country. It has also authorised the customs department to check the movement of cash at all airports and border stations.
As part of this, the SBP had on June 16, 2012 already notified the mandatory requirement for passengers coming to Pakistan and bringing currency and/or negotiable instruments. These regulations came into force on July 1, 2012.
Published in Dawn, October 12th, 2022
