ISLAMABAD: The Reforms & Revenue Mobilization Commission (RRMC) has strongly recommended amendments in Customs laws to ensure that import shipments must carry original invoices inside the containers.

According to the budget proposals of the RRMC for coming budget (2023-24), in cases where importers do not book shipment directly from the shipper, the traders/middlemen then make revised documents to misdeclare the value/description/origin, or they can trade from prohibited countries.

It should be made mandatory for all the shipments to be accompanied with the certificate of origin and Goods Declaration of the “port of origin”. There should be a bilateral portal wherein the certificates of origin can be checked for their authenticity.

The possibility of incorporation of this portal in “Trade Lens” should also be evaluated. Original invoices are normally not present in the container. They are either not taken from the originator or are with the shipping company. It is recommended that original invoices be sent with shipment, inside the container, mandatorily.

The RRMC further recommended that the transparency in imports and exports is essential for all businesses to ensure compliance with the relevant laws and regulations. Additionally, mandating identification details in wholesale and retail trade transactions can help curb illegal activity and promote financial transparency.

It is recommended that the data relating to import trade prices along with the prices on which products are imported in Pakistan, be published on Customs official website. This, in itself, would deter persons from importing same goods on different prices.

Besides, all the other data relating to import and export, such as payments and volumes should be made public by way of publishing the same on official websites etc. This includes data related to Afghan Transit Trade, to enhance data-driven decisions and to provide accessible information to all stakeholders.

Furthermore, making CNIC details mandatory for wholesale and retail trade transactions, or introducing the condition for transactions to be performed using credit / debit / company card facilities. This will help in tracking transactions, prevent financial irregularities, and curb illicit activities, the RRMC added.

Copyright Business Recorder, 2023