KARACHI: The Directorate of Reforms and Automation (R&A) has completed its 80 percent working on introducing Form-I for checking the veracity of the imported consignments, it is learnt here.
The sources in the Directorate of Reforms and Automation Department informed Customs Today that a pilot programme has been finalized in order to run automation clearing system (WeBOC) of the Pakistan Customs and it would be practically imposed as a “Pilot-run” project by April 2016.
The sources while elaborating the entire automated system informed Customs Today that the Federal Board of Revenue-FBR has decided to introduce automated software which is to be used the veracity of imported consignments and to curb the under-invoicing and tax-evasion activities.
“Under the newly introduced automated software, the importer and clearing agent should declare their foreign exchange which they were use to import the consignments on Loose Container Load (LCL) with their respective banks, adding that the foreign exchange which they were declared should tantamount to the actual value of the imported consignments”, sources revealed.
The sources further said that the importer or clearing agent should also reveal their foreign traders to whom they import the consignments.
According to the sources, the high-ups of FBR has taken the said decision in the larger interest of the national economy, as it has been reported that billions of rupees are being lost on yearly basis in shape of under-invoicing and tax evasion.
The introduction of Form-I is on the same pattern on Form-E and the basic aim to launch the above mentioned software is to safe the loss of national exchequer.
Responding to a query, the sources informed that the authorities concerned of Reforms and Automation would also hold a series of meetings with the authorities of State Bank of Pakistan (SBP) and other commercial banks in order to take them on board in connection with launching the said automated software.
