FBR to take punitive action against under-invoicing, misdeclaration

Published July 18, 2019
The FBR chairman urges traders to refrain from dealing in smuggled goods. — DawnNewsTV / File
The FBR chairman urges traders to refrain from dealing in smuggled goods. — DawnNewsTV / File

The Federal Board of Revenue (FBR) on Thursday warned the business community against under-invoicing or misdeclaration of imported goods.

The board in a statement said that otherwise, the FBR will take punitive action against those involved.

Take a look: Naeemul Haque says Shabbar Zaidi not being changed as FBR chairman

According to the statement, FBR Chairman Syed Shabbar Zaidi conveyed a message to the business community that besides refraining from smuggling goods, they should not indulge in under-invoicing or other misdeclarations when getting their imported goods cleared at ports.

"Any importers, their clearing agents and the delinquent staff found involved in such practices shall be liable to punitive action under the law," read the statement.

The FBR chairman further urged the traders to refrain from dealing in smuggled goods and categorically stated that "whosoever is found involved in any way dealing with the sale, purchase or storage of the same will be dealt with strictly".

The FBR statement read that the country has been facing the problem of securing its economic borders as rampant smuggling not only entails huge revenue losses but also adversely impacts the existing industry and future investment.

"Prime Minister Imran Khan has taken a very serious notice of the situation and has ordered a number of measures to cleanse the society from the menace of smuggling."

Meanwhile, Zaidi wrote a letter to all director generals and members of the board to end the prevailing uncertainty among officials over large scale transfers within the board.

According to the letter, there is a tradition of transfers in the FBR, particularly at senior levels, at the beginning of each financial year. He, however, made it clear that the tradition would not be made a norm.

He asked all officers to focus on the recovery of revenues.

Opinion

Pariah regimes
21 Sep 2021

Pariah regimes

The world usually struggles to tame even real pariah and rogue regimes.

Editorial

What’s the game?
21 Sep 2021

What’s the game?

Such brinkmanship is being fuelled by incendiary rhetoric as well as inflexible demands of a unilateral nature.
21 Sep 2021

Gas price hike

THE proposed hike of 24pc-37pc in the gas price of the top 23pc residential consumers, who account for 43pc of the...
21 Sep 2021

Green Line buses

AT long last, the first batch of vehicles for Karachi’s Green Line bus project arrived from China on Sunday,...
20 Sep 2021

Banking for women

AS the old adage goes, the proof of the pudding is in the eating. How far the new State Bank initiative —...
Off the red list
Updated 20 Sep 2021

Off the red list

There are aspects of coronavirus management, especially by developed nations towards those less so, that smack of discrimination.
20 Sep 2021

Exciting frontiers

HISTORY was made on Wednesday at the Kennedy Space Centre in Cape Canaveral. It was not the launch of the first, or...