ISLAMABAD – Finance Minister of Pakistan, Ishaq Dar, turns down on Friday a proposal by FBR (Federal Board of revenue) chief to tax remittances.
The finance minister said, adding that he was irritated by such speculations, “This confusion must stop, and there will be no tax on foreign remittances in the coming budget”.
He further said, “Remittances are very stable source of foreign exchange flow into the country and represent the hard work of millions of Pakistanis living abroad and their commitment for development of the country.
Mr. Dar said that he could not wait for June 5 budget presentation to announce that remittances from overseas Pakistanis remained exempted from tax.
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