Duties, taxes on transhipment: Bank guarantees mandatory for Iranian transporters

ISLAMABAD: The Federal Board of Revenue (FBR) has made it mandatory for Iranian transport operators/bonded carriers to submit bank guarantees of duties and taxes involved on imported goods meant for transshipment under agreement on Bilateral Road Transportation of Goods between Pakistan and Iran.

The FBR has specified conditions for qualifying as a bonded carrier and its operations by the Iranian transport operators through issuance of a notification on Thursday.

The FBR has issued S.R.0.1446(1)/2024 to introduce draft of certain further amendments in the Customs Rules, 2001 here on Thursday.

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The “carrier” means the Pakistan Railways, National Logistic Cell (NLC), Sambrial Dry Port Trust, Faisalabad Dry Port Trust, Multan Dry Port Trust, Iranian carrier as defined in Article 2 of the Agreement on Bilateral Road Transportation of Goods between the Government of Pakistan and the Government of Iran, or such other carrier as the FBR may approve from time to time and are duly licensed under Chapter VIII of Customs Rules,2001.

in rule 326, in clause (c), after the word “Trust”, occurring for the third time, the expression

According to the notification, in case of transshipment of goods through Iranian carrier from Taftan to NLC Dry Port, Quetta, the Iranian transport operator shall furnish a bank guarantee equivalent to the amount of leviable customs duties and taxes on goods meant for transshipment, as determined by the Collectorate of Customs Appraisement, Taftan, in terms of clause (7) of Article 7 of the Agreement (1987) on Bilateral Road Transportation of Goods between Pakistan and Iran.

The amount of bank guarantee shall be forfeited apart from other consequential penal action under the Act, and the rules made thereunder, if the Iranian carrier misuses the facilities of the transshipment of the imported goods, FBR added.

Copyright Business Recorder, 2024