Currency declaration requirement not a new development, clarifies FBR

The Federal Board of Revenue (FBR) clarified on Sunday that the requirement of submitting a currency declaration form for inbound passengers to Pakistan was not a new development, stating that a notification in this regard had been issued by the State Bank of Pakistan (SBP) over a decade ago. "FBR has rebutted misleading information being shared in some sections of press that Pakistan has recently imposed currency declaration requirements for passengers coming into Pakistan. State Bank of Pak issued requirements about 10 yrs ago & Pak Customs widened the scope in 2019," the revenue body's spokesperson said in a late-night tweet. Last month, media reports stated that the Pakistan Civil Aviation Authority (PCAA) had started implementing Financial Action Task Force (FATF) standards in accordance with the government’s directives for submission of customs’ declaration forms by all inbound and outbound passengers of international flights giving details of their currency, gold jewellery, precious stones and restricted goods such as narcotics, weapons, satellite phones, etc.