Over 200 imported vehicles stuck at ports

KARACHI: Over 200 imported vehicles are stuck at the port, because they cannot meet the provision of SRO 52(I)/2019, which provides that remittances for the payment of duty and taxes will only be accepted if they originate from the bank account of overseas Pakistani importing/sending the vehicle from abroad and IBAN number is disclosed on the remittance certificate.

Federal Board of Revenue FBR had clarified that for the purposes of the SRO 52(1)/2019, the remittances for the payment or duties and taxes shall only be acceptable when the same originate from the bank account of the overseas Pakistani sending/importing the vehicle from abroad along with the International Bank Account Number (IBAN) is disclosed on the remittance certificate.

Besides, for the purposes of SRO 52(1)/2019, other mode of transfer of remittance shall not be acceptable.

Customs received the representations revealing the fact that only 77 countries are using the IBAN numbering system, whereas many countries including United States of America, China, Japan, Canada, Australia etc are not using the IBAN numbering system.

This fact has also been communicated by M/s Habib Metropolitan Bank.

Consequently, implementation of above mentioned clarification has resulted into halting of clearance of the vehicles for lacking IBAN.

Customs authorities have approached FBR requesting to issue policy guideline for clearance of vehicles where duty/taxes are remitted from non-IBAN countries.

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