Page 32 - NIBAF-Training Matters July - December 2022

NIBAF Karachi

Offered a comprehensive suite of
trainings in the period including
functional specific and soft skills
training for officers of SBP, SBP
BSC, commercial banks while also
conducting induction trainings for
three batches of PSPC and the
Middle Management Development
Programs for officers of SBP.
Highlights of key training
conducted in H1FY23 is as below:
participants from SBP, SBP BSC branch. He further enlightened the

Applicable Income Tax and different commercial banks group on the wide range of digital
attended this program.
banking and payment services
Laws on Banking Services such as online banking, funds
and Products transfer, utility bills and fee
Understanding Roshan payments in Pakistan, donations to
Considering the market demand in to charities, investments in
this area, a carefully designed Digital Accounts government securities such as
program was offered to SBP, SBP In order to promote awareness and Naya Pakistan Certificates/stock
BSC and commercial banks. The inculcate information about the exchange and real estate sector.
one-day online session was Roshan Digital Accounts, a one- Mr. Ali further briefed the
conducted by Mr. Rajesh Kumar day online session was organized participants about different
Maheshwari, Assistant Director, by NIBAF-Karachi on August 22, financing products under RDA
Finance Department, SBP on 2022 and attended by 26 SBP scheme like Roshan Apni Car,
August 17, 2022. He briefed officers. The session was Roshan Apna Ghar, through which
participants about the concept of conducted by subject matter expert the NRPs can buy a car of choice or
Income Tax and its governing laws, Syed Ali Raza, Senior Joint a home for their loved ones
type of taxes in Pakistan, taxes on Director, Digital Innovations & residing in Pakistan. He also added
baking services and products, Settlements Department, SBP. that since the inception of the
different sections of withholding of During the session, he discussed scheme, approximately four
Income tax which are generally the rationale behind launching the hundred and fifty thousand
applied in banking industry, Roshan Digital Account (RDA) (450,000) Roshan Digital Accounts
advance tax on international scheme and its aim to connect have been opened with an amount
transactions, framework of millions of Non-Resident Pakistanis of approximately USD 4.8 billion
applicable taxes at the time of (NRPs) living across the globe with received in these accounts.
making payment to Residents and the banking and financial system of
Non-Residents, treatment of Pakistan through innovative
income tax on Roshan Digital banking solutions. He also shared
Account and its allied products, with the participants that the NRPs Multiple Iterations of -
registration with FBR & filing of tax can now digitally open a bank Filing of Income Tax
returns etc. He also explained account in a Pakistani bank from Returns
participants about different aspects abroad with simplified
of active tax payer list, exemption requirements and avail all the Every resident of Pakistan who has
under ITO, exemption for RDA facilities without visiting any taxable income for the year is
customers. More than 30 required to file income tax return
every year within the due date as