ISLAMABAD: Federal Board of Revenue (FBR) has constituted a committee for issuing advance ruling on requests submitted by businesses.
In a bid to enhance transparency and provide clarity in customs matters, the Federal Board of Revenue (FBR) has notified the rules for issuing advance rulings.
ISLAMABAD: The law of advance ruling for classification of goods or determination of origin has been implemented through Finance Act, 2020 from July 01, 2020. The National Assembly has approved the law of advance ruling that was proposed through Finance Bill, 2020. According to explanation issued by PWC A F Ferguson Chartered Accountants, the concept […]
ISLAMABAD: The government has introduced mechanism of advance ruling to facilitate importers and investors to ensure transparency in clearance process. Section 212B has been inserted to the Customs Act, 1969 through Finance Bill, 2020 to introduce advance ruling. Section 212B: Advance Ruling. (1) An applicant desirous of advance ruling shall make an application in such […]