ISLAMABAD: In a fresh bid to legalise the volume of smuggled items ranging up to $10 billion on annual basis, the Federal Bureau of Revenue (FBR) is planning to launch a nationwide scheme to offer owners of non-duty paid (NDP) goods on payment of duty and taxes as well as with fine/penalty, FBR Chairman Syed Shabbar Zaidi said on Saturday.
The chairman said in a tweet that the details of the development would be released next week. “The purpose is to facilitate businessmen and improve documentation without disturbing business confidence,” said FBR chief.
FBR is working in developing a ‘expeditious settlement’ of ‘non duty paid’ fast moving consumer goods available in the market. Details will be released next week. The purpose is to facilitate businessmen and improve documentation without disturbing business confidence.
— Syed Shabbar Zaidi (@ShabarZaidi) December 7, 2019
Before going all out against smuggled items, FBR plans to give one last opportunity to businessmen involved in selling products within the premises of main city centers to settle clearance of non-duty paid fast moving consumer goods as the FBR will launch crackdown against the smuggled items after the expiry of this upcoming scheme.
FBR’s Member Customs (Operation) Dr Jawad Uwais Agha is working on developing this plan where the tax machinery is intended to offer negligible duty rate for clearance of non-duty paid consumers goods to convert them into legal products.