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Foreign Exchange Regaulations
01-30-2012, 10:11 PM
Post: #1
Foreign Exchange Regaulations
Assalam-o-Alaikum
I have some queries related to FX regulations in Pakistan.

<b>Following is the situation</b><ol type="1">
<li>I have a proprietorship business registered under my name/CNIC</li>
<li>I provide software outsourcing services (Development) for which I get paid in GBP, directly deposited into my GBP account in Pakista</li>
<li>I file Personal Income Tax and declare all the Rupees equivalent of FX income as per prevailing FX rate.</li></ol id="1">

<b>Following are the queries</b><ol type="1">
<li>What are the restrictions/limits in place to get the FX converted from open market? </li>
<li>Can I get large sum of FX converted from a registered Money Changer with due documentation. What are the pitfalls and required caution with regards to regulations?</li>
<li>What are the restrictions/limit in place to transfer the FX from business account to personal account (both under the same CNIC)</li>
<li>Are there any restrictions on using the FX funds in my business account for personal use after declaring them on personal Income Tax.</li>

<li>What are the restrictions/limits in place to transfer any FX fund to an overseas account?</li></ol id="1">

Any pointer would be greatly appreciated.

Any link to a layman guide to Foreign Exchange regulations in Pakistan would be a great help

Thanks
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Messages In This Thread
Foreign Exchange Regaulations - Aikkhilari - 01-30-2012 10:11 PM
[] - insaan - 01-31-2012, 11:38 PM
[] - Aikkhilari - 02-02-2012, 01:37 PM
[] - insaan - 02-03-2012, 01:54 AM

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