ISLAMABAD: The Federal Board of Revenue (FBR) will not charge import/export duties and taxes on international transshipment of goods through Pakistan.
The FBR has proposed amendments in the Customs Rules 2001 through a notification issued here on Wednesday.
However, shipping lines intended to use the facility of international transshipment shall submit an indemnity bond to the customs under the financial guarantee arrangement. The international transshipment goods shall not be subjected to the payment of import of export duties or taxes provided the activities are in conformity of these rules.
The FBR has also decided to make it mandatory for the shipping lines, engaged in the business of international transshipment of containers and bulk cargo, to submit an indemnity bond for ensuring to follow customs rules and procedures.
The FBR has also issued a new procedure for the transhipment of imported cargo from gateway port to a foreign port.
Copyright Business Recorder, 2020
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