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The amendments simplify and reduce the tax compliance cost for the NRPs maintaining RDAs

Taxation regime further simplified for diaspora.

Commercial banks are also showing keen interest for participation in the scheme. — AFP/File KARACHI: Prime Minister Imran Khan on Tuesday expressed satisfaction over foreign exchange inflows via the Roshan Digital Accounts (RDAs) which reached $500 million. “I want to thank our Overseas Pakistanis for responding so strongly to SBP’s #RoshanDigitalAccounts. 87,833 accounts opened from 97 countries around the world. $500 million sent to Pakistan in just 5 months. Momentum continues to rise with $243 million coming in last 6 weeks alone,” PM Khan tweeted. The RDA — a joint initiative ...

The government has made several amendments to the income tax law to make it easier for overseas Pakistanis to open Roshan Digital Accounts. It has taken the initiative after feedback from Pakistanis living abroad and the central bank. Overseas Pakistanis investing in Naya Pakistan Certificates through their Roshan Digital Accounts were already under the full and final taxation regime. The amendments have now extended the coverage of full and final taxation regime to dividends and capital gains on shares and mutual fund investments. They include capital gain (profit on sale) on real estate too....

Based on feedback from the diaspora and recommendations from SBP, the Federal Government has introduced several amendments in the Income Tax Ordinance