ISLAMABAD – The Federal Board of Revenue (FBR) issues stern warning forbusiness community across the country over under invoicing, smuggling andmisdeclarations.
FBR has warned the business community against under-invoicing ormisdeclaration of imported goods.
“Otherwise, the FBR will take punitive action against those involved,” theboard said in a statementlinkissuedon Thursday.
FBR Chairman Syed Shabbar Zaidi conveyed a message to the businesscommunity that besides refraining from smuggling goods, they should notindulge in under-invoicing or other misdeclarations when getting theirimported goods cleared at ports.
“Any importers, their clearing agents and the delinquent staff foundinvolved in such practices shall be liable to punitive action under thelaw,” read the statement.
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The FBR chairman further urged the traders to refrain from dealing insmuggled goods and categorically stated that “whosoever is found involvedin any way dealing with the sale, purchase or storage of the same will bedealt with strictly”.
The FBR statement read that the country has been facing the problem ofsecuring its economic borders as rampant smuggling not only entails hugerevenue losses but also adversely impacts the existing industry and futureinvestment.
“Prime Minister Imran Khan has taken a very serious notice of the situationand has ordered a number of measures to cleanse the society from the menaceof smuggling.”
