AGL 40.02 Increased By ▲ 0.02 (0.05%)
AIRLINK 127.36 Increased By ▲ 0.32 (0.25%)
BOP 6.61 Decreased By ▼ -0.06 (-0.9%)
CNERGY 4.50 Decreased By ▼ -0.01 (-0.22%)
DCL 8.55 No Change ▼ 0.00 (0%)
DFML 41.79 Increased By ▲ 0.35 (0.84%)
DGKC 87.54 Increased By ▲ 0.69 (0.79%)
FCCL 32.64 Increased By ▲ 0.36 (1.12%)
FFBL 65.02 Increased By ▲ 0.22 (0.34%)
FFL 10.26 Increased By ▲ 0.01 (0.1%)
HUBC 109.70 Increased By ▲ 0.13 (0.12%)
HUMNL 14.64 Decreased By ▼ -0.04 (-0.27%)
KEL 5.11 Increased By ▲ 0.06 (1.19%)
KOSM 7.56 Increased By ▲ 0.10 (1.34%)
MLCF 41.42 Increased By ▲ 0.04 (0.1%)
NBP 59.70 Decreased By ▼ -0.71 (-1.18%)
OGDC 193.80 Increased By ▲ 3.70 (1.95%)
PAEL 28.37 Increased By ▲ 0.54 (1.94%)
PIBTL 7.83 No Change ▼ 0.00 (0%)
PPL 151.89 Increased By ▲ 1.83 (1.22%)
PRL 26.40 Decreased By ▼ -0.48 (-1.79%)
PTC 16.17 Increased By ▲ 0.10 (0.62%)
SEARL 83.99 Decreased By ▼ -2.01 (-2.34%)
TELE 7.68 Decreased By ▼ -0.03 (-0.39%)
TOMCL 35.52 Increased By ▲ 0.11 (0.31%)
TPLP 8.10 Decreased By ▼ -0.02 (-0.25%)
TREET 16.08 Decreased By ▼ -0.33 (-2.01%)
TRG 52.74 Decreased By ▼ -0.55 (-1.03%)
UNITY 26.21 Increased By ▲ 0.05 (0.19%)
WTL 1.25 Decreased By ▼ -0.01 (-0.79%)
BR100 9,953 Increased By 69.4 (0.7%)
BR30 30,908 Increased By 307.7 (1.01%)
KSE100 93,785 Increased By 429.6 (0.46%)
KSE30 29,050 Increased By 119.3 (0.41%)

The Central Board of Revenue (CBR) will issue a new procedure for the customs clearing agents to redefine their role in the new electronic environment of clearance of import/export consignments.
Sources told Business Recorder on Wednesday that the CBR has given new assignment to Member Customs to analyse the best international practices for devising new rules for the reliable clearing agents sector.
In this regard, customs authorities would study the best practices in other countries and reorganisation of clearing agencies/agents sector would be finalised. Chairman CBR Abdullah Yusuf has directed the customs authorities to complete the exercise on top priority basis.
In budget 2005-06, the CBR drafted the "Customs Agent Licensing Rules 2005", but the same were not notified. Now, the new procedure would be issued for these agents incorporating the best rules applicable in other countries.
The sources said that the CBR wanted that the agents should pay the evaded amount of duties and taxes in case it is established that evasion has taken place because of their negligence, failure to perform functions as prescribed under the law of connivance or wilful act.
Under the proposed rules, the CBR had also laid down a number of new responsibilities for the licensees.
The sources added that the proposed rules would be combined with best international practices for issuance of comprehensive procedure for the customs clearing agents.

Copyright Business Recorder, 2005

Comments

Comments are closed.