Attention freelancers !!

What is a PRC: PRC stands for Proceed Realization Certificate and it is a proof that the payments you're receiving from fiverr/ upwork/ freelancers/ peoplePerHour or any other platform (mostly via PayOneer or any other way) in your local bank account, are from abroad. This payment is called remittance

Who should get PRC: According to FBR, if you're earning over 6 lac per year then you should return your files which means you must get PRC if you're earning over PKR 50,000/- per month (PRC is only for the payments from abroad, not for your local jobs/ business).
Why do you need PRC: This certificate shows the payments fall in the category of Home Remittance and according to Govt. of Pakistan's policy all such payments are exempted from tax. PRC is a proof that it is totally white money which you can use to purchase assets and FBR won't ask for proof of income or tax paid or anything.
If you don't get PRC for your income, even if you don't purchase anything, large sum of money in your bank account will raise eyebrows and soon FBR will come knocking at your door. So you must have these certificates to show this is all white money and exempted from any taxation.

How to get PRC: Simply write an application to your bank's manager. Getting your first PRC will be a hectic task because most of the bank managers don't know about it. But after you've received first PRC then there'll be no issues on the upcoming payments. [MMBL will dispatch the PRC within almost 1 week]

Price for getting PRC: If you're requesting for the PRC of payment which you recieved within last 12 months, then it's free of cost. If it's older than 1 year then your bank will charge you a specific amount for each PRC you request. In my case it was 450Pkr per PRC. But prices may vary depending on which bank do you use.

How did I get my first PRC: When I started freelancing years ago, I was an account holder of HBL. I kept asking them for PRC for more than 6 months but they didn't entertain my request properly. (In my opinion HBL has the worst customer service I've ever faced, but this is just my personal experience you may or may not relate to it).
Then instead of wasting my time in fighting with HBL, I went to another local bank and talked to the bank manager, I told him my monthly income and I said I'll only open my accout here if you promise me to provide PRC for every payment I receieve. After that it took me almost 2 months to get my first PRC. But now I receive my PRCs within 10 days by just sending an email to my bank's manager.

Please find attached template of the application that you can write to your bank.

#عدیل اعوان🌚