Importers to pay penalty up to Rs250,000

Importers to pay penalty up to Rs250,000

ISLAMABAD: In order to maintain digital record of foreign trade, a monetary penalty up to Rs250,000 has been proposed to levy on importers who fail to provide mandatory documents electronically.

According to budget 2021/2022 documents, the Finance Bill, 2021 proposed amendment to Customs Act, 1969.

The proposed amendment is:

“If any person fails to attach or electronically upload mandatory documents required under section 79 or 131 of the Customs Act, 1969-, such person shall be liable to a penalty as under:-

1st time Rs.50,000/

2nd time Rs.100,000/

3rd time Rs.150,000/-

4th time Rs.200,000/-

5th time Rs250,000 and onwards.

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