PTI Government makes new tax incentives and concessions to Overseas Pakistanis
The government is planning to offer tax incentives and concessions to the Overseas Pakistanis under the National Remittance Loyalty Program (NRLP) including duties and tax exemption on the import of different items including vehicles.
Sources in the Ministry of Finance told Propakistani that a meeting has been scheduled on Friday (January 15) at the Finance Division on the NRLP. The federal government is in the process to introduce a National Remittance Loyalty Program (NRLP) to facilitate overseas Pakistanis.
Under this program, overseas Pakistani remitters will be provided incentives and rewards (complementary and against earned points) for sending remittances to Pakistan.
A draft agreement to be signed by the participating government organizations including FBR, FIA, PIA, and CAA in order to offer rewards/benefits under the NRPL was shared with the relevant stakeholders for their comments and suggestions. The benefits to be offered to the remitters have been specified in the draft agreement, officials said. ------------------------------
Under the draft agreement, separate counters for priority clearance at arrival and departure lounges at all international airports of Pakistan. CAA would place standees/banners with messages of appreciation for remitters with encouraging them to join NRLP free of cost. The FIA will make these counters effectively operational with dedicated resources.
The staff at special counters for operations would receive special training of customers facilitation by the FIA/CAA.
Under the agreement, the FBR will offer duty exemption to the overseas Pakistanis under the NRLP, as already available to existing Foreign Exchange Remittance Card (FERC) holders, on television, deep freezer, refrigerator, microwave, cooking range, washing machine, air conditioner for each one item per year and one Mobile link phone without customs duty in a year.
Another important change would be to restrict the scope of import of automobiles under the Baggage Scheme to only registered users under the NRLP. ------------------------------
The FBR is also considering that customs duty payment to be settled through the point redemption on the NRLP merchant module. The revenue board will also offer a discount on taxes on the purchase of locally manufactured vehicles one in three years under the agreement.
The renewal of CNIC/NICOP on the redemption of points would be allowed to the overseas Pakistanis. Moreover, the Passport Office will allow the renewal of the passport to registered NRPL remitters.
The 50 percent discounts would be available at OPF-Schools for children of registered NRLP remitters. The special quota for registered NRLP customers in all OPF/Naya Pakistan Housing Authority Housing Schemes. However, the same may be allowed in accordance with the FE Regulations applicable.
OPF/Naya Pakistan Housing Authorities would be responsible to settle the fee of OPF schools through point redemption on the NRLP merchant module.
Under the draft agreement, the PIA will allow 20 percent extra baggage allowance to the registered NRLP remitters; 10 percent discount on international tickets by the PIA.
The payment to “luggage exceeding the limit and 20 percent extra allowance to be settled through the point redemption of the NRLP and payable ticket cost to be settled through point redemption on NRLP merchant module.
50 percent discount on various government charges for repeat emigrant workers (going abroad for employment for the second or later time); payable fee to be settled through point redemption on NRLP merchant module.
The amount payable Utility Stores will be settled through point redemption on NRLP merchant module, they