Quantcast
Tuesday , August 22 2017
Breaking News
Home / Anti-Smuggling / FBR to establish kiosks at airports to stop smuggling of foreign currency
FBR to establish kiosks at airports to stop smuggling of foreign currency

FBR to establish kiosks at airports to stop smuggling of foreign currency

KARACHI: Federal Board of Revenue (FBR) is planning to establish kiosks at all the major airports of the country to verify the source of income of the travelers and to avert smuggling of foreign currency.

Sources said that Customs department had previously proposed to SBP to cut foreign currency cap from $10,000 to $3,000 along with imposition of ban on persons below 15 years of age to bring foreign currency with them and proposed to fix $1,000 limit for persons between ages 15-18 years.

A cap of $10,000 has been set by State Bank of Pakistan for the travelers, which was permissible only for taxpayers.

Sources added that following reports about some corrupt elements using families for transferring foreign currency abroad, FBR is developing apt measures to prevent flight of foreign currency. They said that the staff at these kiosks would verify travelers if they are registered in the tax net or not. In case they are not taxpayers, foreign currency they hold will be taken into custody.