The Head Offices/Principal
Offices of all
Authorized Dealers In Foreign Exchange
Dear
Sir,
REPORTING - PURPOSE OF REMITTANCE
In terms of Para-7 [Schedule ‘J’
(Appendix V-107)] Chapter XXII of Foreign Exchange Manual
(Eighth Edition), the amounts upto Rs 10,000/- received
for purposes other than ‘Family Maintenance Remittances’
and all remittances received as ‘Family Maintenances
Remittances’ irrespective of the amounts are required
to be reported by the Authorized Dealers on Form IRV. All
such Inward Remittances sent by individuals from abroad
in favour of individuals in Pakistan are treated as ‘Un-requited
Transfer – Family Maintenance, unless voluntarily
disclosed by the beneficiary to be for some other purpose.
2.
In order to save the beneficiaries of small inward remittances
from the requirement of filling forms, which are required
exclusively for the statistical purposes, it has now been
decided to extend this facility upto US$ 10,000/- (or equivalent
in other currencies). Accordingly, the words “Rs 10,000/-”
mentioned in Para-7 Chapter XXII of the Foreign Exchange
Manual (8th Edition), against “Schedule J (Appendix
V-107)”, may be replaced with the words “US$
10,000/- (or equivalent in other currencies)”.
3.
Please bring the above change to the notice of your constituents.