KARACHI: The Federal Board of Revenue (FBR) has reduced the Import Trade Price (ITP) for ceramics to $1.82 per square meter from Iran.
The FBR has also reduced the ITP on ceramic tiles import from China, Europe and Middle East, sources told Customs Today.
According to the sources, the local ceramic industry would get affected with decrease in ITP and under-invoicing and mis-declaration had already caused loss of billions of rupees to the national kitty.
Though, the FBR Chairman Tariq Bajwa is committed to plug the revenue leakages and ending smuggling of all kinds of goods.
After the reduction of the ITP, the manufacturers of ceramics have written letters letter to Chairman FBR, chief collector Enforcement-South informing about the presence of smuggled Iranian tiles in local markets of Karachi, Quetta and Makran etc.
