The tax authorities and the business community would exchange import data to jointly combat the menace of under-invoicing and take timely action against the tax-evaders.
Sources told Business Recorder on Thursday that the Central Board of Revenue (CBR) will give direct access to valuation data available with the "One Customs Project" and the computer clearance system (PACCS) to the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and the Directorate General Valuation to keep an effective check on the under-valued goods.
The board has also asked the collectors of customs to keep a close liaison with the FPCCI.
They said the FPCCI has set up a special cell to co-ordinate with the customs department to check under-invoicing.
Under the strategy to combat the under-invoicing, the CBR has also decided that the delineation of valuation methods adopted by the DG Valuation should be implemented at all the collectorates.
Moreover, the CBR has also decided to make the Post Clearance Audit Organisation operational without any delay. It would work as a distinct and separate organisation to check under-valuation of the imported goods, sources added.