AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 132.66 Increased By ▲ 3.13 (2.42%)
BOP 6.89 Increased By ▲ 0.21 (3.14%)
CNERGY 4.57 Decreased By ▼ -0.06 (-1.3%)
DCL 8.92 Decreased By ▼ -0.02 (-0.22%)
DFML 42.75 Increased By ▲ 1.06 (2.54%)
DGKC 84.00 Increased By ▲ 0.23 (0.27%)
FCCL 32.90 Increased By ▲ 0.13 (0.4%)
FFBL 77.06 Increased By ▲ 1.59 (2.11%)
FFL 12.20 Increased By ▲ 0.73 (6.36%)
HUBC 110.01 Decreased By ▼ -0.54 (-0.49%)
HUMNL 14.40 Decreased By ▼ -0.16 (-1.1%)
KEL 5.53 Increased By ▲ 0.14 (2.6%)
KOSM 8.32 Decreased By ▼ -0.08 (-0.95%)
MLCF 39.67 Decreased By ▼ -0.12 (-0.3%)
NBP 65.50 Increased By ▲ 5.21 (8.64%)
OGDC 198.74 Decreased By ▼ -0.92 (-0.46%)
PAEL 26.00 Decreased By ▼ -0.65 (-2.44%)
PIBTL 7.62 Decreased By ▼ -0.04 (-0.52%)
PPL 159.00 Increased By ▲ 1.08 (0.68%)
PRL 26.24 Decreased By ▼ -0.49 (-1.83%)
PTC 18.35 Decreased By ▼ -0.11 (-0.6%)
SEARL 82.24 Decreased By ▼ -0.20 (-0.24%)
TELE 8.12 Decreased By ▼ -0.19 (-2.29%)
TOMCL 34.40 Decreased By ▼ -0.11 (-0.32%)
TPLP 8.98 Decreased By ▼ -0.08 (-0.88%)
TREET 16.88 Decreased By ▼ -0.59 (-3.38%)
TRG 59.49 Decreased By ▼ -1.83 (-2.98%)
UNITY 27.52 Increased By ▲ 0.09 (0.33%)
WTL 1.40 Increased By ▲ 0.02 (1.45%)
BR100 10,614 Increased By 206.9 (1.99%)
BR30 31,874 Increased By 160.5 (0.51%)
KSE100 98,972 Increased By 1644 (1.69%)
KSE30 30,784 Increased By 591.7 (1.96%)

The Federal Board of Revenue (FBR) and State Bank of Pakistan (SBP) will sign a memorandum of understanding (MoU) for providing online access to the data of E-forms submitted by the exporters to ensure clearance of goods on genuine/admissible forms. FBR Member Customs Nisar Muhammad told Public Accounts Committee (PAC) here on Tuesday that for the first time in the history of FBR, online verification of the E-forms would be possible by the customs officials. In this regard, a MoU would be signed between the SBP and the FBR.
The information of the E-forms would be available on real time basis to the customs officials under the new system, he said. Through this process, the FBR will be in a position to verify each and every E-form promptly with the help of the SBP, Member Customs added. The issue of the E-forms came to the light when audit officers of the Auditor General of Pakistan pointed out a case where consignments were cleared on fake E-forms. FBR Chairman Tariq Bajwa responded that the E-forms have been issued by the SBP. In the case of 2009, the FBR itself detected the case and took necessary action against the exporters.
Under government policy, the FBR has to facilitate the exports, but we have imposed three times penalty on the exporters using fake E-forms, FBR Chairman said. Responding to this, Syed Khursheed Ahmed Shah, Chairman PAC stated that tax facilitation and encouragement should not be done at the cost of tax department.

Copyright Business Recorder, 2015

Comments

Comments are closed.