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FBR seeks fresh MoU with China on sharing of GDs for all transactions

FBR seeks fresh MoU with China on sharing of GDs for all transactions

ISLAMABAD: Federal Board of Revenue (FBR) asked Chief Exports and Valuation and Chief Reforms and Automation to prepare fresh Memorandum of Understanding (MoU) with China to scope sharing of Goods Declarations for all transactions.

The FBR has issued minutes of the committee meeting which was held in first week of July 2019. The meeting was scheduled to discus the report namely “Customs Valuation an Internal Review” prepared by a committee which was constituted by the FBR.

The meeting was chaired by Member Customs Operations Dr. Jawwad Awais Agha, the meeting remained focused to make an Action Plan along with holding discussions and presenting recommendations as well as proposals, while various responsibilities were also assigned to different Customs Departments.

During the meeting, it was purposed to Chief (Exports & Valuation) FBR and Chief R&A (Reforms and Automation) to immediately follow up the issue with the MoFA (Ministry of Foreign Affairs) and Ministry of Commerce regarding to seek fresh MOU (Memorandum of Understanding) with the China to expand the scope for sharing GD (Goods Declaration) data for all transactions.

To giving his feedback on the meeting the Chairman FBR appreciated the participants and stated that the report of the meeting has provided a roadmap to revamp the Valuation Directorates online to check the phenomenon of mis-declarations. He appreciated the efforts of the committee in preparations of the said reports and hoped that if the action successfully implemented, it would modernize the current valuation mechanism which will result in improvement of the Customs service.

It was also purposed in meeting for Director WeBOC and Director (RMS) to make required changes in WeBOC design for the sake of providing support to automation of Valuation checks while asked the said Directors to compile feed back within three months.