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FBR to take stern action against under-invoicing & mis-declaration

FBR to take stern action against under-invoicing & mis-declaration

ISLAMABAD: Federal Board of Revenue (FBR) has decided  to take punitive action against under-invoicing or mis-declaration of imported goods.

Chairman FBR Syed ShabbarZaidi has conveyed a message to the business community that besides refraining from business in smuggled goods, they should not indulge in under-invoicing or other mis-declarations when getting their imported goods cleared at the ports.

Any importers, their clearing agents and the delinquent staff found involved in such practices shall be liable to punitive action under the law.

Chairman FBR has further urged the traders to refrain from dealing in smuggled goods and has categorically stated that whosoever is found involved in any way dealing with sale, purchase or storage of the same will be dealt with strictly. Pakistan has been facing the problem of securing its economic borders as rampant smuggling not only entails huge revenue losses but also adversely impacts existing industry and future investment.

The prime minister has taken a very serious notice of the situation and has ordered a number of measures to cleanse the society from the menace of smuggling. Pakistan Customs being the country’s lead Anti-Smuggling Organization has accordingly stepped up enforcement actions in coordination with other Law Enforcement Agencies to make an example of all such notorious elements engaged in smuggling.