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FBR to start marking tax stamps from July 2021

ISLAMABAD: Federal Board of Revenue (FBR) is expecting to start marking tax stamps on products of various sectors from July 2021, a statement said on Monday.

It said that the installation of the track and trace system in the identified sectors would be a game changer for improving revenue and curbing counterfeit products in the market. FBR expects to start installing UIMs (tax stamps) on various sector products from July 2021.

The FBR on Monday successfully completed the evaluation process for the grant of five-year license for an IT-based solution for electronic monitoring (Track and Trace System) of specified goods i.e. Tobacco, Cement, Sugar and Fertilizer. 

Initially 11 bids were received out of which 8 bids were technically qualified. The Technical scores were awarded to them on the basis of specified evaluation criteria.

To ensure complete transparency, technical scores of all technically compliant bidders were displayed for all attendees to see prior to opening of the financial bids.

Afterwards, the opening of the financial bids was held today 1st February at FBR Head quarter, Islamabad, which was attended by 8 technically compliant applicants/bidders. The financial bids were publicly opened by the 7-member licensing committee, headed by Karamatullah Khan Chaudhry. Accordingly, cumulative (technical and financial) scores of all the 8 qualified applicants were derived.

As a result of the above, M/s. AJCL/Authentix/MITAS was declared as “the most advantageous bid” on the basis of the combined highest score in accordance with the Licensing Rules 2019 and PPRA rules 2004.