Govt launches pound, euro denominated Naya Pakistan certificates

March 24, 2021 (MLN): The government of Pakistan has introduced Naya Pakistan certificates in British Pound and Euro for non-resident Pakistanis.  

Posting a video message on State Bank of Pakistan’s Twitter handle, Governor SBP, Reza Baqir said that the Federal Government has introduced several amendments in the Income Tax Ordinance 2001 to make the taxation regime simple, convenient and hassle-free for Non-Resident Pakistanis (NRPs) maintaining Roshan Digital Accounts (RDAs). NRPs investing in the stock market, real estate, or in NPCs through their RDAs were already under the full and final taxation regime, will not need to file tax returns against their income derived from the investment made through RDAs under the above heads.

Talking about financial headaches facing by NRPs, SBP has taken further steps towards improving coordination with other correspondent banks. SBP made easy for NRPs as most of the banks can now charge in the range of $5 to $9 for transferring funds internationally to and from RDA accounts.

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