ISLAMABAD: The Federal Board of Revenue (FBR) has decided to revise the Customs Act-1969 while National Evaluation Data Base (NEDB) is going to be established for revaluation of customs duty of imported items.
According to sources, FBR had decided to revise the Customs Act 1969 and remove drawbacks from it while making it applicable with today’s circumstances.
Sources added that World Bank will provide financial and technical help to strengthen the Risk Engagement Unit (RMU), which is already established in the Customs Department.
Sources added that NEDB will be established to correctly evaluate the customs duty of the imported items.
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