KARACHI: As working on Form-I entered into final phase; the Federal Board of Revenue (FBR) has decided to implement the Form-I in trade with the start on next fiscal year 2016-17, it is learnt.
Officials of the Directorate of Reforms and Automation and customs collectorates held a meeting to discuss different aspects regarding the implementation of the form.
The sources informed that the directorate has already completed 90 percent working in connection with the implementation of Form-I in import consignments, adding that the officials also conducted several meetings with the authorities concerned of State Bank of Pakistan (SBP) and all other commercial banks.
It is pertinent to mention here that the importers have already expressed their reservations over the implementation of Form-I in trade, adding that the import procedure would be complicated by introducing the said form.
The importers were also of the view that the WeBOC-an automated system, through which the importers can file their goods declaration (GDs), is itself a perfect assessment system.
