KARACHI: Chinese software to evaluate Chinese imports at the Pakistan Customs offices is going to start working this month.
According to details, the Pakistan Customs is all set to start using the modern software made by a Chinese company. The software easily translates invoices and other export and import documents which will be a great help for the Pakistani officers to read invoices of imports from China. China has also provided computer and other equipment with the software to run the business smoothly.
Sources told Customs Today that Chinese Customs authorities are visiting Pakistan on May 21 to watch arrangements for the software so as to use it in upcoming days. Importers of Chinese products are causing Rs 3 billion loss to the Pakistan Customs through under-invoicing and mis-declaration.
It is pertinent to mentioned here that China and Pakistan has free trade agreement (FTA) through which the importers manipulate the tax system.
Expert in the industry say they have noticed phenomenal increase in imports from China after the FTA but the national exchequer is not benefiting under head of taxes and duties so looking at the situation the authorities discuss the situation with their Chinese counterparts and cam up with the solution of the software which is hoped to increase taxes manifold.
