Circulars/Notifications - Exchange Policy Department  
 F.E. Circular No. 81
December 29, 1993 

All Authorised Dealers
in Foreign Exchange,

Dear Sirs,

RELEASE OF FOREIGN EXCHANGE FOR TRAVEL
ABROAD – LEVY OF 5% TAX

1. Attention of Authorized Dealers is invited to F.E. Circular No.70 dated the 19th October, 1993 on the subject noted above.

2. It has since been decided by the Government that exemption from deduction of tax under Section 50(SB) of Income Tax Ordinance, 1979 is also available to persons genuinely visiting only holy places at Karbala in Iraq even if they have visit visa for a country bordering Iraq, for the purpose of entry into the holy places at Karbala.

3. This issues in partial modification of F.E. Circular mentioned in Para 1 above.

4. It should, however, be ensured that instructions contained in F.E. Circular No.65 dated 30th August, 1993 are meticulously followed while releasing foreign exchange for travel abroad.

       
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