ISLAMABAD: The Federal Board of Revenue (FBR) and National Tariff Commission (NTC) have signed a Memorandum of Understanding (MoU) for electronic exchange of information for accurate and timely implementation of notifications for levying countervailing, anti-dumping and safeguard duties.

Such an electronic exchange will help save time, reduce cost of doing business and improve efficiency. Integration of Regulatory Authorities (INTRA) is an initiative of FBR and Pakistan Customs, through which regulatory authorities are being integrated with customs automated clearance system.

The integration permits electronic exchange of import documents, which are prerequisites for allowing import of certain items under the prevailing import policy. The aim is to improve ‘Ease of Doing Business’ in Pakistan by facilitating cross border trade.

Electronic interface has provided real time access to authorised officials from NTC to feed/upload notifications for levying such duties electronically in WeBOC through unique user IDs. NTC shall also have monitoring access for the said notifications. The electronic exchange shall save time and reduce cost of doing business.

Published in Dawn, March 22nd, 2018