ISLAMABAD: Pakis­tan Customs has launch­ed an indigenously developed Link­ing Internatio­nal Value (LIVE) automated system to control the perennial problem of under-invoicing as part of reforms to facilitate trade and businesses.

Developed by the Directorate of Reforms & Automation team, LIVE has been integrated with the Web-Based One Cus­toms (WeBOC) system. Overhau­ling the existing system for improving the assessment of imported goods is one of the main objectives of the current reform efforts.

The automated system has been made part of the prime minister’s strategic roadmap for plugging revenue leakages and reducing the tax gap.

The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and the Karachi Chamber of Commerce and Industry (KCCI) have responded positively to operationalisation of LIVE from Jan 1, a senior customs official told Dawn.

The system is both automated and trade-frien­dly as it has been digitally made available Internatio­nal Values to all the assessing officers in Pakis­tan on their screens.

Values of other important items — such as chemicals, edible oils, coated & amp, uncoated paper, polyester filament yarn & amp, fibre — will be integrated into the system by June 30, 2023, the official said.

Launched by the Directorate General Valuation (Customs), Karachi, the electronic solution is believed to address the perennial problem of under-invoicing.

Published in Dawn, January 13th, 2023