{"id":62657,"date":"2020-03-13T14:59:33","date_gmt":"2020-03-13T09:59:33","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=62657"},"modified":"2020-03-13T15:34:06","modified_gmt":"2020-03-13T10:34:06","slug":"govt-exempts-foreign-remittances-withholding-tax","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/govt-exempts-foreign-remittances-withholding-tax.html","title":{"rendered":"Govt exempts foreign remittances from withholding tax"},"content":{"rendered":"\n<p>Lahore: The federal government has decided to exempt withholding tax on foreign remittances deposited in bank accounts from July 1 onward, a news source reported. To this effect, the Finance Division (FD) has stated that it expects remittance levels to exceed USD 22 billion by the end of the going fiscal year.<\/p>\n\n\n\n<p><strong>Read<\/strong>: <a href=\"https:\/\/www.zameen.com\/news\/govt-facilitate-banks-increasing-remittances.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"Govt to facilitate banks for increasing remittances (opens in a new tab)\">Govt to facilitate banks for increasing remittances<\/a><\/p>\n\n\n\n<p>It further stated that during July-February period of FY 2019-20, the remittances stood at USD 15.1 billion. It also shared measures to increase remittances, outlook, and recommendations.<\/p>\n\n\n\n<p><strong>Read<\/strong>: <a href=\"https:\/\/www.zameen.com\/news\/sbp-to-establish-facilitation-desk-for-foreign-exchange-remittances.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"SBP to establish facilitation desk for foreign exchange, remittances (opens in a new tab)\">SBP to establish facilitation desk for foreign exchange, remittances<\/a><\/p>\n\n\n\n<p>The FD officials said that the government planned to launch a \u2018National Remittance Loyalty Programme\u2019 from September onwards. For this purpose, it will collaborate with major commercial banks and government agencies. The loyalty programme will provide various incentives to overseas Pakistanis through mobile apps and cards.<\/p>\n\n\n\n<p><strong>Read<\/strong>: <a href=\"https:\/\/www.zameen.com\/news\/ecc-approves-pkr-9-6bn-incentive-package-bankk-foreign-exchange-firms-increase-remittances.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"ECC approves PKR 9.6bn incentive package for banks, foreign exchange firms to increase remittances (opens in a new tab)\">ECC approves PKR 9.6bn incentive package for banks, foreign exchange firms to increase remittances<\/a><\/p>\n\n\n\n<p>The officials opined that the Pakistan Remittance Initiative (PRI) had helped attract higher remittances from the expats. The government introduced various <a rel=\"noreferrer noopener\" aria-label=\"measures  (opens in a new tab)\" href=\"https:\/\/www.zameen.com\/news\/measures-boosting-remittances-official-banking-channels-approved.html\" target=\"_blank\">measures <\/a>to promote foreign remittances through official channels.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lahore: The federal government has decided to exempt withholding tax on foreign remittances deposited in bank accounts from July 1 onward, a news source reported. To this effect, the Finance Division (FD) has stated that it expects remittance levels to exceed USD 22 billion by the end of the going fiscal year. Read: Govt to facilitate banks for increasing remittances It further stated that during July-February period of FY 2019-20, the remittances stood at USD 15.1 billion. It also shared measures to increase remittances, outlook, and recommendations. Read: SBP to establish facilitation desk for foreign exchange, remittances The FD officials said that the government planned to launch a \u2018National Remittance Loyalty Programme\u2019 from September onwards. For this purpose, it will collaborate with major commercial banks and government agencies. The loyalty programme will provide various incentives to overseas Pakistanis through mobile apps and cards. Read: ECC approves PKR 9.6bn incentive package for banks, foreign exchange firms to increase remittances The officials opined that the Pakistan Remittance Initiative (PRI) had helped attract higher remittances from the expats. The government introduced various measures to promote foreign remittances through official channels.<\/p>\n","protected":false},"author":68,"featured_media":60548,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017],"tags":[22791],"persona":[],"class_list":{"0":"post-62657","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"tag-details-on-govt-exempts-remittances-from-withholding-tax","9":"cat-15017-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Foreign remittances of Pakistan expemted witholding tax - Zameen News<\/title>\n<meta name=\"description\" content=\"The federal government has decided to exempt withholding tax on foreign remittances deposited in bank accounts from July 1 onward.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/govt-exempts-foreign-remittances-withholding-tax.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Foreign remittances of Pakistan expemted witholding tax - Zameen News\" \/>\n<meta property=\"og:description\" content=\"The federal government has decided to exempt withholding tax on foreign remittances deposited in bank accounts from July 1 onward.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/govt-exempts-foreign-remittances-withholding-tax.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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