FBR starts virtual assessments of imported consignments

ISLAMABAD: The Federal Board of Revenue (FBR) has started virtual assessments of imported consignments without involving Appraisers/Examiners to clear low risk cargo through machines.

Senior FBR officials told Business Recorder here on Wednesday that one of key Customs reforms under process is the automated assessment or virtual assessment through machines. Machine-based assessment is being done for simple consignments excluding complicated consignments where human intelligence is required.

The simple consignments like single commodity and non-risk cargo is cleared through the machines. Around 10 percent of the consignments falling under the category of yellow channel are assessed by the machines target is to take it to 20 percent by end June 2022.

Officials stated that the third major reform initiative is revamping of valuation of imported goods. The valuation rulings require a time period of 3-4 months for consultation, hearing, processing and finally issuance of the ruling. On the other hand, market prices keep on changing quickly.

Under the new system made operational, the international market published prices can now be directly entered into the system without going through the process of issuing the valuation ruling.

The new module has been developed under which the electronic data of the international prices is coming which is helping in better assessment of imported goods. By June 30, 2023, the FBR is planning that the readily made available market prices of yarn, fiber, commodities metal, plastics and all would be digitally connected to directorate’s Customs system, they said.

The third major reform initiative has been done on the enforcement side, we have cracked down on the Khapias and we have made two dozen arrests of Khapias who are frequent flyers. The crackdown resulted in slow down of outflow of foreign currency, top FBR officials added.

Copyright Business Recorder, 2023