{"id":71411,"date":"2020-10-14T13:26:57","date_gmt":"2020-10-14T08:26:57","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=71411"},"modified":"2020-10-14T13:27:00","modified_gmt":"2020-10-14T08:27:00","slug":"sbp-allows-resident-tax-filers-deposit-foreign-currency-local-accounts","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/sbp-allows-resident-tax-filers-deposit-foreign-currency-local-accounts.html","title":{"rendered":"SBP allows resident tax filers to deposit foreign currency in local accounts"},"content":{"rendered":"\n<p>Karachi: The State Bank of Pakistan (SBP) on Sunday announced allowing resident tax filers to deposit foreign currency in local bank accounts after reports of a government issued Statutory Regulatory Order (SRO) gave rise to confusion regarding the change in rules relating to the matter, a news source reported.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/fbr-looks-introduce-tax-purchase-foreign-currency.html\" target=\"_blank\" rel=\"noreferrer noopener\">FBR looks to introduce tax on purchase of foreign currency<\/a><\/p>\n\n\n\n<p>Initially, the government had issued the Foreign Currency Accounts Rules on October 6 under the Protection of Economic Reforms Act, 1992. The wording of the SRO, however, suggested that a ban has been placed on depositing foreign exchange purchased from open market into the FE-25 foreign currency accounts. The central bank issued the circular to clarify the notion.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/sbp-announces-mechanism-incentivise-penalise-mortgage-financing.html\" target=\"_blank\" rel=\"noreferrer noopener\">SBP announces mechanism to incentivise, penalise mortgage financing<\/a><\/p>\n\n\n\n<p>As per the current rules in the Foreign Exchange Manual, the foreign currency accounts can be fed with remittances, travelers\u2019 cheques issued from outside the country or securities issued by the government. A resident can now also deposit foreign currency in cash if he is a \u2018tax filer\u2019.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Karachi: The State Bank of Pakistan (SBP) on Sunday announced allowing resident tax filers to deposit foreign currency in local bank accounts after reports of a government issued Statutory Regulatory Order (SRO) gave rise to confusion regarding the change in rules relating to the matter, a news source reported. Read: FBR looks to introduce tax on purchase of foreign currency Initially, the government had issued the Foreign Currency Accounts Rules on October 6 under the Protection of Economic Reforms Act, 1992. The wording of the SRO, however, suggested that a ban has been placed on depositing foreign exchange purchased from open market into the FE-25 foreign currency accounts. The central bank issued the circular to clarify the notion. Read: SBP announces mechanism to incentivise, penalise mortgage financing As per the current rules in the Foreign Exchange Manual, the foreign currency accounts can be fed with remittances, travelers\u2019 cheques issued from outside the country or securities issued by the government. A resident can now also deposit foreign currency in cash if he is a \u2018tax filer\u2019.<\/p>\n","protected":false},"author":57,"featured_media":64432,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017],"tags":[41412,21853,12899],"persona":[],"class_list":{"0":"post-71411","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"tag-foreign-currency","9":"tag-state-bank-of-pakistan-sbp","10":"tag-tax-filers","11":"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>SBP allows resident tax filers to deposit foreign currency in local accounts - Zameen News<\/title>\n<meta name=\"description\" content=\"Karachi: The State Bank of Pakistan (SBP) on Sunday announced allowing resident tax filers to deposit foreign currency in local bank accounts after reports of a government issued Statutory Regulatory Order (SRO) gave rise to confusion regarding the change in rules relating to the matter, 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\/sbp-allows-resident-tax-filers-deposit-foreign-currency-local-accounts.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SBP allows resident tax filers to deposit foreign currency in local accounts - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Karachi: The State Bank of Pakistan (SBP) on Sunday announced allowing resident tax filers to deposit foreign currency in local bank accounts after reports of a government issued Statutory Regulatory Order (SRO) gave rise to confusion regarding the change in rules relating to the matter, a news source reported.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/sbp-allows-resident-tax-filers-deposit-foreign-currency-local-accounts.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; Pakistan Property News &amp; Latest Updates - Zameen News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ZameenPK\" \/>\n<meta property=\"article:published_time\" content=\"2020-10-14T08:26:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-10-14T08:27:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2020\/04\/SBP-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1170\" \/>\n\t<meta property=\"og:image:height\" content=\"399\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Muhammad Farhad\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:site\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Muhammad Farhad\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"SBP allows resident tax filers to deposit foreign currency in local accounts - Zameen News","description":"Karachi: The State Bank of Pakistan (SBP) on Sunday announced allowing resident tax filers to deposit foreign currency in local bank accounts after reports of a government issued Statutory Regulatory Order (SRO) gave rise to confusion regarding the change in rules relating to the matter, a news source reported.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.zameen.com\/news\/sbp-allows-resident-tax-filers-deposit-foreign-currency-local-accounts.html","og_locale":"en_US","og_type":"article","og_title":"SBP allows resident tax filers to deposit foreign currency in local accounts - Zameen News","og_description":"Karachi: The State Bank of Pakistan (SBP) on Sunday announced allowing resident tax filers to deposit foreign currency in local bank accounts after reports of a government issued Statutory Regulatory Order (SRO) gave rise to confusion regarding the change in rules relating to the matter, a news source reported.","og_url":"https:\/\/www.zameen.com\/news\/sbp-allows-resident-tax-filers-deposit-foreign-currency-local-accounts.html","og_site_name":"Pakistan Real Estate News &amp; 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