ISLAMABAD: The Federal Board of Revenue (FBR) on Monday issued draft rules for providing evidence of identity for subscription of Pakistan Single Window (PSW).
The FBR issued SRO 605 (I)/2022 dated May 17, 2022 and invited comments/objections/suggestions from stakeholders before finalizing the rules.
The revenue authority said that all persons (applicants) wishing to conduct a cross-border trade transaction whether imports, exports, or transit must provide evidence of identity by undergoing an electronic verification process by subscription to the PSW system to prove their credentials.
The FBR said that PSW subscription will be done through an online procedure. The applicants, upon furnishing the necessary information required by the system for the verification process and payment of subscription fee shall be issued a unique User ID. The applicant shall receive the user ID issued electronically by the PSW System on the email address registered with the FBR.
The revenue body said that to verify the identity of an applicant, the PSW system would develop and implement an electronic ‘Know Your Customer’ (KYC) protocol based on system integrations or electronic data interchange with FBR, Securities and Exchange Commission of Pakistan (SECP), Pakistan Mobile Number Portability Database Company (PMD), National Database & Registration Authority (NADRA), commercial banks and any other database prescribed in the regulations.
The validity period of user identification (UID) of the subscriber shall remain valid and active for a period of two years from the date of issuance of UID. The same shall have to be renewed or revalidated upon expiry of the prescribed period of two years. The subscriber or user shall have to apply for such renewal or revalidation one month prior to expiry of the validity period of two years upon payment of prescribed subscription fee.
According to the draft rules, access to the PSW system for the purpose of conducting cross-border trade transactions will only be allowed through the UID and password issued to an applicant.
“The subscriber shall be responsible for the authenticity for the information provided, security of their password, safe handling of the data shared or retrieved from the PSW, and ethical use of the system,” the FBR said. It further added that failure to exercise due care in the use of PSW system or compromising its digital system or conniving with any person, who intend to get unauthorized access to the PSW shall be liable to action which may involve suspension of the UID and penalties under the provisions of the Act and other applicable laws for the time being in force.