FBR to launch faceless tax assessment system

Business 2 hours ago
FBR to launch faceless tax assessment system
  • 9
  • 0

KARACHI: The Federal Board of Revenue (FBR) is set to implement the Faceless Customs Assessment (FCA) system in Karachi, marking a significant step in the FBR's transformation plan approved by the prime minister.

Under the new system, all import goods declarations filed at the Appraisement Collectorates in Karachi after midnight will be assigned to the Central Appraising Unit (CAU) for assessment. This unit was recently established at the South Asia Pakistan Terminal in Karachi. The launch of FCA is expected to bring about notable changes in the functioning of the Customs department. It aims to streamline the trade process by reducing clearance times and enhancing the efficiency and transparency of the assessment process. The introduction of a faceless system eliminates direct human interaction, mitigating opportunities for corruption and improving the overall business environment.After the successful implementation of the first phase in Karachi, the FCA system will be extended to other ports and border stations across the country.

Additionally, the appraisement function of Customs will be relocated away from traditional Customs Collectorates to further improve efficiency. The FBR's move to introduce the FCA system is in line with global best practices and is expected to facilitate smoother trade and business operations in Pakistan.

NC Big Stories

Qureshi moved to Adiala Jail as charges loom in GHQ attack case

Shah Mehmood Qureshi, senior leader of Pakistan Tehreek-e-Insaf (PTI) and former foreign minister, has been transferred to Adiala Jail, where he is set to face formal charges related to the May 9 attack on the General Headquarters (GHQ).  This...

Ministry of Religious Affairs announces deadline

 ISLAMABAD: The Ministry of Religious Affairs in Pakistan has issued a deadline for those wishing to perform the Hajj 2025. According to reports, The ministry announced that Hajj 2025 applications will be accepted until December 17, which falls...

PM to participate in D-8 summit in Egypt from Dec 18-20

ISLAMABAD: Prime Minister Shehbaz Sharif is set to visit Egypt from December 18 to 20 to attend the 11th Summit of the Developing Eight (D-8) countries, which will take place in Cairo. The summit’s theme is “Investing in Youth and Suppor...

ATC discharges 102 PTI workers in Nov 26 protest case

ISLAMABAD: An Anti-Terrorism Court has discharged 102 Pakistan Tehreek-e-Insaf (PTI) workers from a case related to the November 26 protests, ordering the police not to re-arrest them. The court released 57 of the detained PTI workers, who were promp...

More like this
Related

KSE-100 surpasses 116,000

KARACHI: The KSE-100 Index has reached a historic high, closing above 116,000 points, as investor optimism grows in anticipation of further interest rate cuts by the State Bank of Pakistan (SBP). This marks a significant milestone for the Pakistani...

OGDCL boosts production with revived heavy oil well in Punjab

PUNJAB: Oil and Gas Development Company Limited (OGDCL), Pakistan's largest exploration and production (E&P) company, has successfully revived a heavy oil well in the Rajian Oil Field located in Punjab. The company announced this significant dev...

Fifth Consecutive Cut: SBP slashes policy rate by 200bps to 13%

KARACHI: The State Bank of Pakistan (SBP) has announced a 200 basis points reduction in its key policy rate, lowering it to 13%. This decision marks the fifth consecutive rate cut since June 2024, when the policy rate stood at 22%. The reduction, ef...

Gold price per tola increases Rs3,100

KARACHI: On Wednesday, gold prices in Pakistan registered a notable increase, in line with the rise observed in the international market. In the local market, the price per tola reached Rs280,500, reflecting a single-day gain of Rs3,100. Similarly,...
Need Help? Chat with us