ISLAMABAD: Federal Board of Revenue (FBR) will issue procedure for documenting smuggled and non-duty paid fast moving consumer goods (FMCG).
In a tweet on Saturday, FBR Chairman Syed Shabbar Zaidi said that the FBR was working in developing a ‘expeditious settlement’ of ‘non duty paid’ fast moving consumer goods available in the market. He said that the tax machinery would release details next week.
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“The purpose is to facilitate businessmen and improve documentation without disturbing business confidence,” he added.
Recently, teams constituted by the FBR conducted physical survey of main markets and shopping centers/plazas to identify the presence of non-duty paid and smuggled goods.
The FBR teams inspected imported products including garments, cosmetics, watches, toys, gift items, batteries, cigar, leather goods, designer bags etc. The sources said that the teams had identified smuggled and non-duty paid goods at big retails outlets.
The FBR on August 17, 2019 decided to launch monitoring the presence of smuggled goods in main shopping markets across the country from this month. It was also decided to launch the monitoring by joint teams of Inland Revenue and Pakistan Customs.
