FBR may allow clearance of imported vehicles forex conversion certificate

KARACHI: Chief Collector Appraisement South Abdul Rasheed Shaikh has approached Federal Board of Revenue (FBR) seeking clearance of imported vehicles in accordance with SRO 1067(I)/2017 and SRO 1237/2017 on production of bank encashment certificate showing conversion of foreign remittance to local currency supported by swift message bearing reference to the importer in respect of bills of lading issued before January 09, 2018.
At the moment thousands of imported vehicles were lying at the ports for clearance causing congestion at the port.
Chief Collector noted that the Ministry of Commerce’s instructions regarding payment of duty and taxes on import of vehicles under personal baggage, transfer of residence and gift schemes to the extent of involvement of bank account of Pakistani national abroad sending the vehicle or his family member are to be implemented for vehicles whose bill of lading is issued on or after January 09, 2018.
Sources said FBR would likely allow clearance of imported vehicles whose bill of lading were issued on or before December 31, 2017. The instructions in this regard are likely to be notified on Friday, January 19, 2018.

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