The Federal Board of Revenue (FBR) has tightened conditions, from July 1, 2021, for the exporters, who are availing the scheme of “temporary importation of goods for subsequent exportation” without payment of duties and taxes.
The Federal Board of Revenue (FBR) has amended S.R.O. 492(I)/2009 through a notification issued on Wednesday.
Under the revised scheme, the customs officials have been empowered to conduct profiling of the goods being exported, through the Risk Management System, to check whether exporters have misused the facility of “temporary importation of goods for subsequent exportation.”
Under the amended procedure, the export shall be processed subject to profiling by the Risk Management System. The Assistant Collector or the Deputy Collector, in charge of the export station, may examine goods being exported in case of specific information regarding the misuse of the facility, with the permission of the Collector. Findings of the examination shall be uploaded to the system.
The FBR added that immediately after re-export of goods, the applicant shall produce evidence to the Collector of Customs concerned that the goods have been re-exported within the stipulated time period.
On production of such evidence or declaration, the indemnity bond and post-dated cheque submitted at the time of import shall be released.
Source: Pro Pakistani