KARACHI: Federal Board of Revenue (FBR) Chairman Shabbar Zaidi has announced to provide access to ‘custom rulings’ on the Federal Board Of Revenue (FBR)’s website.
Shabbar Zaidi posted a tweet on customs ruling that in order to promote transparency and ease in doing business, the step was taken.
In order to further promote transparency and ease in doing business it has been decided that ‘custom rulings’ in force for import valuation will be easily accessible on FBR website. Businesses are suggested to assist in identifying cases of under valuation etc.
— Syed Shabbar Zaidi (@ShabarZaidi) November 28, 2019
Zaidi wrote, ” In order to further promote transparency and ease in doing business it has been decided that ‘custom rulings’ in force for import valuation will be easily accessible on the FBR website.”
He added, “Businesses are suggested to assist in identifying cases of undervaluation etc.”
Read more: Business friendly changes made to curb under-invoicing: FBR
The chairman FBR earlier said that the reason for the low rate of loans to the small and medium-sized sector (SMEs) was due to lack of planning.
According to Zaidi, the people belonging to the SMEs sector were apparently not willing to be part of the tax system.
Chairman FBR said that the taxation system implemented in the previous tenures was quite difficult.
Also read: Cricketer Hafeez denies receiving FBR’s notice over tax evasion
