A consignment of four cargo trucks from Uzbekistan arrived at the Torkham border, marking the commencement of trade between Uzbekistan and Pakistan.
ISLAMABAD: Federal Board of Revenue (FBR) will give cash rewards to law enforcement agencies (LEAs) for recovery and confiscation of smuggled or non-duty paid goods under Customs laws. The FBR issued SRO 1398(I)/2021 dated October 20, 2021, and proposed to include law enforcement agencies (LEAs) in Customs Reward Rules, 2021. According to the draft amendment, […]
The Federal Board of Revenue (FBR) has decided to waive the penal surcharge on goods that have overstayed at warehouses.
ISLAMABAD: The Federal Board of Revenue (FBR) will constitute local valuation committee for customs valuations of goods imported or exported from Afghanistan and Iran. Through SRO 1352 (I)/2021 dated October 14, 2021, the FBR issued draft amendments for local valuation committee rules under Section 25A of the Customs Act, 1969. The proposed amendments would be […]
ISLAMABAD: Federal Board of Revenue (FBR) on Saturday assured the traders of providing all facilities for the clearance of goods at the Pak-Afghan border. Chairman Federal Board of Revenue, Dr. Muhammad Ashfaq Ahmad accompanied by Syed Tariq Huda Member(Customs Operations) and Saeed Jadoon Member (Customs Policy) on Saturday visited Torkham Border and reviewed the pace […]
ISLAMABAD: Finance Minister Shaukat Tarin on Friday said that Pakistan Single Window (PSW) will facilitate trade by reducing cost, time and complications. Shaukat Tarin presided over the first meeting of Governing Council of PSW held at the Finance Division. The finance minister appreciated the progress and stated that PSW will reduce time, cost and complications […]
ISLAMABAD: Federal Board of Revenue (FBR) strongly rebutted the reports of currency smuggling from Pakistan to Afghanistan. In a statement issued on Friday, the FBR categorically rebutted the unfounded, malicious intent and misleading in content propaganda being advanced by some irresponsible elements that there was a huge flight of dollars from Pakistan. It is further […]
ISLAMABAD: Federal Board of Revenue (FBR) on Thursday issued draft rules for Uzbekistan-Pakistan Transit Trade (UPTT). The FBR issued SRO 1256(I)/2021 dated September 20, 2021 to propose amendment in Customs Rules, 2001. The revenue body invited suggested or objections to the draft rules within 15 days from the issuance of the SRO. The draft rules […]
ISLAMABAD: Importers will not be allowed to avail of the facility of provision valuation for goods declaration when the valuation of such goods is already in the field. An important amendment has been made into Customs Act, 1969 through Tax Laws (Third Amendment) Ordinance, 2021, which was promulgated through presidential order on September 15, 2021. […]
The Customs authorities have been restricted from reopening the assessment of consignment clearance based on incorrect information after a three-year period.