 Procedure For Deposit Of Tax On, And Repatriation Of Liquid

Asset Under Foreign Assets (Declaration And Repatriation)

Ordinance, 2018.

• In pursuance of the section 10 of the Foreign Asset(Declaration and

Repatriation)Ordinance, 2018.
• SBP is pleased to notify the procedure for Repatriation of Liquid
Assets and Payment Deposit of Tax.
 Short Tittle and
Commencement

Declaration of
Repatriation of
Assets and
Liquid Asset in
Generation of
Pakistan
PSID

Payments of Tax
by Wire Transfer
to SBP Account
 Short title and commencement:
• Repatriation of Deposit of Tax on foreign assets (Repatriation and
Declaration) Procedure 2018.
• It come into force from 10-01-2018
 Declaration of Assets and Generation of
PSID
• The taxpayer shall electronically fill the Form ‘A’ “Foreign Assets are
declared in the form ‘A’.
• Generate PSID for payment of tax due on the foreign assets declared
in the form A.
• To generate PSID Tax payer open link Http://paysys.Fbr.Gov.Pk and
enter the tax liability in PKR and system will convert the PKR into USD.
• The PSID shall be generated on the same day, the tax payment is to be
made.
 Payment of tax by wire transfer to SBP
Account:
• After Declaration of assets and generation of PSID taxpayer shall arrange to remit the USD
Funds against the tax liability.
• After remitting the funds to SBP account, the taxpayer shall electronically send following
information and Documents to SBP.
• A copy of wire transfer necessary instruction CNIC/NTN of taxpayer.
• Scanned copy of duly signed Form A and PSID.
• Sbp after verification of fund, convert USD funds into PKR.
• For collecting the tax receipt in the Fed Govt account no I, Sbp will generate CPR against
PSID from taxpayer CPR is the formal evidence of payment for both taxpayer and Fbr.
• Sbp electronically transmit a scanned copy of CPR to taxpayer for its record.
• Taxpayer shall link CPR no from Sbp with form A at Fbr portal to complete assets declaration
process.
Repatriation of Liquid Assets in Pakistan:
• Liquid assets declared to be repatriated into Pakistan in form ‘A’ for
investment in Fed Govt Bond or for credit to the tax payer’s Pkr
account.
• Taxpayer send CNIC/NTN to Sbp
• Sbp after verification of money receipt in its accounts convert convert
USD funds into Pkr.
• Sbr shall maintain a register of taxpayers embodying details contained
in form A which will be shared with Fbr periodically.