FBR seeks details of imported vehicles stuck up at port

KARACHI: Federal Board of Revenue (FBR) has advised all Chief Collectors of Customs to provide details regarding vehicles stuck up at ports imported under personal baggage, gift and transfer of residence schemes.

The FBR has advised the Chief Collectors to furnish information including number of vehicles stuck up and revenue involved thereon.

A number of vehicles are stuck up at ports for non-availability of evidence/enchashment certificate for amount remitted from abroad; due to insufficient remittance received from abroad due to change in dollar value against Paki rupee;   due to insufficient remittance received from abroad due to increase in duty and taxes.

The government is examining different proposals to deal with the issue of granting permission for clearance of over 1,000 old and used vehicles stuck up at ports, which were imported in violation of import policy order.

It has been decided that both the Ministry of Commerce and FBR will sit together to finalize the policy to deal with the issue, but final decision would be taken by the Commerce Ministry because the issue is related to the violation of import policy order.

It has been further decided that there would be no change in the said provision that all vehicles in new/used condition to be imported under transfer of residence, personal baggage or under gift schemes, the duty and taxes shall be paid out of foreign exchange arranged by Pakistan nationals themselves or local recipient supported by banks encashment certificate. The meeting was attended by the officials of Ministry of Finance, FBR and Ministry of Commerce and Ministry of Textile.

There is a demand to grant one time relaxation which requires changes in the existing rules to benefit the importers. However, no final decision has been taken on the idea of one time waiver for clearance of such vehicles.

The meeting discussed possibility of introducing scheme for the commercial importers taking into account the views of Finance Division, Commerce Ministry and Federal Board of Revenue (FBR).

Bookmark the permalink.

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

  • RSS Newsnreleases

    • Dolfines SAS acquires 8.2 France 02-Aug-2021
      MONTIGNY LE BRETONNEUX, FRANCE: Dolfines SAS, an independent specialist in engineering and services for the renewable and conventional energy industry,... Continue reading The post Dolfines SAS acquires 8.2 France appeared first on NewsnReleases.
    • Fertiglobe acquires 15% Stake in EBIC for $43 million 02-Aug-2021
      AMSTERDAM, NETHERLANDS: OCI N.V. announced Fertiglobe has agreed with a KBR-led consortium (NYSE: KBR), which includes Mitsubishi, JGC and Itochu,... Continue reading The post Fertiglobe acquires 15% Stake in EBIC for $43 million appeared first on NewsnReleases.
    • SSE sells stake in Scotia Gas Networks for £1.225 billion 02-Aug-2021
      LONDON, UK: SSE Plc has agreed to sell its entire 33.3% stake in gas distribution operator Scotia Gas Networks Ltd... Continue reading The post SSE sells stake in Scotia Gas Networks for £1.225 billion appeared first on NewsnReleases.
    • Subsea 7 announces floating wind acquisition 02-Aug-2021
      LUXEMBOURG: Subsea 7 S.A. has entered into an agreement to acquire a majority interest in the equity of Nautilus Floating... Continue reading The post Subsea 7 announces floating wind acquisition appeared first on NewsnReleases.
    • Warwick, Solent, West London and Leiden to adopt Tribal’s cloud offerings 02-Aug-2021
      LONDON, UK: Tribal Group announced a series of cloud contract wins, demonstrating the attraction of the Group’s expanding range of... Continue reading The post Warwick, Solent, West London and Leiden to adopt Tribal’s cloud offerings appeared first on NewsnReleases.