{"id":64999,"date":"2020-05-04T12:53:42","date_gmt":"2020-05-04T07:53:42","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=64999"},"modified":"2020-05-04T12:53:43","modified_gmt":"2020-05-04T07:53:43","slug":"national-remittance-loyalty-programme-launch-september","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/national-remittance-loyalty-programme-launch-september.html","title":{"rendered":"National Remittance Loyalty Programme to be launched in September"},"content":{"rendered":"\n<p>Islamabad: The federal government\u2019s proposed National Remittance Loyalty Programme is expected to be launched in September this year \u2014 with the initiative aimed at encouraging overseas Pakistanis to use formal banking channels for sending their remittances, a news source reported.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/govt-to-abolish-wht-on-remittances-in-fy-2020-21.html\" target=\"_blank\" rel=\"noreferrer noopener\">Govt to abolish WHT on remittances in FY2020-21<\/a><\/p>\n\n\n\n<p>According to World Bank predictions, remittances could decline by as much as 20%, since migrant workers were particularly vulnerable to unemployment as a result of the coronavirus pandemic.<\/p>\n\n\n\n<p>Reportedly, the loyalty programme and the incentive package will be launched from the next fiscal year. One of the major provisions introduced under this package will be the exemption of withholding tax on domestic bank transactions related to remittances received during the year.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/govt-launch-loyalty-programme-overseas-pakistanis.html\" target=\"_blank\" rel=\"noreferrer noopener\">Govt to launch loyalty programme for overseas Pakistanis<\/a><\/p>\n\n\n\n<p>The government has also directed the Federal Board of Revenue to prepare the draft for necessary amendments in the income tax ordinance for this purpose.<\/p>\n\n\n\n<p>In addition, a high-level committee has been formed to chalk out the details of the loyalty programme. The committee consists of representatives from the State Bank, Ministry of Finance, Federal Board of Revenue, Overseas Pakistanis Ministry and other relevant departments.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The federal government\u2019s proposed National Remittance Loyalty Programme is expected to be launched in September this year \u2014 with the initiative aimed at encouraging overseas Pakistanis to use formal banking channels for sending their remittances, a news source reported. Read: Govt to abolish WHT on remittances in FY2020-21 According to World Bank predictions, remittances could decline by as much as 20%, since migrant workers were particularly vulnerable to unemployment as a result of the coronavirus pandemic. Reportedly, the loyalty programme and the incentive package will be launched from the next fiscal year. One of the major provisions introduced under this package will be the exemption of withholding tax on domestic bank transactions related to remittances received during the year. Read: Govt to launch loyalty programme for overseas Pakistanis The government has also directed the Federal Board of Revenue to prepare the draft for necessary amendments in the income tax ordinance for this purpose. In addition, a high-level committee has been formed to chalk out the details of the loyalty programme. The committee consists of representatives from the State Bank, Ministry of Finance, Federal Board of Revenue, Overseas Pakistanis Ministry and other relevant departments.<\/p>\n","protected":false},"author":57,"featured_media":64102,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017],"tags":[27892],"persona":[],"class_list":{"0":"post-64999","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"tag-national-remittance-loyalty-programme-to-be-launched-in-september","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>National Remittance Loyalty Programme to launch in September - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The federal government\u2019s proposed National Remittance Loyalty Programme is expected to be launched in September this year \u2014 with the initiative aimed at encouraging overseas Pakistanis to use formal banking channels for sending their remittances, a news source reported.\" \/>\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\/national-remittance-loyalty-programme-launch-september.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"National Remittance Loyalty Programme to launch in September - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: The federal government\u2019s proposed National Remittance Loyalty Programme is expected to be launched in September this year \u2014 with the initiative aimed at encouraging overseas Pakistanis to use formal banking channels for sending their remittances, a news source reported.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/national-remittance-loyalty-programme-launch-september.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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