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FBR Takes a New Step to Prevent Money Laundering

FBR Takes a New Step to Prevent Money Laundering The Federal Board of Revenue (FBR) has given additional responsibilities to the Directorate General of Customs Valuation to prevent the flight of capital and trade-based money laundering taking place through mis-invoicing of exports. The FBR on Friday has issued SRO.503(I)/2021 to specify the powers and functions of the Directorate General of Customs Valuation. The directorate would now have the powers to focus on under-invoicing of imports, also...
Customs Valuation Agreement Or World Trade Organization Training Research Federal Board Directorate General Customs Valuation Director General

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Transshipment of containers and bulk cargo: Shipping lines required to submit indemnity bond

Transshipment of containers and bulk cargo: Shipping lines required to submit indemnity bond The Federal Board of Revenue (FBR) has made it mandatory for the shipping lines engaged in the business of international transshipment of containers and bulk cargo to submit an indemnity bond to the customs for ensuring to follow Customs rules and regulations of the FBR. The FBR has amended Customs Rules 2001 through a notification issued here on Thursday. Under the new rules, the FBR has also directed ...
Voccs Nvoccs International Transshipment International Transhipment Federal Board Customs Rules Customs Computerized System

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