ISLAMABAD: The Federal Board of Revenue (FBR) has issued a new procedure for obtaining licenses of common bonded warehouses for the import of goods, primarily, meant for export by small and medium enterprises (SMEs) and indirect exporters.

The FBR has issued draft of the Common Bonded Warehouse Rules, 2021 through a notification issued here on Thursday.

FBR rolls out module in WeBOC system to facilitate exporters/traders

Under the Common Bonded Warehouse Rules, 2021, these shall apply to the clearance of imported input goods under the Import Policy Order including banned or restricted items as per Appendix-A and Appendix-B of the said order for the import of goods primarily, meant for export by small and medium enterprises (SMEs) and indirect exporters. Any person desirous of operating a common bonded warehouse shall apply electronically through WeBOC/CCS to the Collector of Customs in the form set out in Appendix-I of new rules along with the required documents.

Copyright Business Recorder, 2021