The caretaker government has set new targets for the Federal Board of Revenue (FBR) to address under-invoicing and over-invoicing.
A decision has been made to establish Electronic Data Interchange (EDI) agreements with major import partners of Pakistan, including the United Arab Emirates (UAE), Singapore, Hong Kong, and Afghanistan.
The FBR has prepared a memorandum of understanding (MoU) for electronic data interchange agreements, and these draft agreements will be forwarded to the respective countries for reconciliation via the Ministry of Foreign Affairs (MoFA).
SAMAA TV reported that entering into invoicing agreements with these countries will significantly aid in preventing under and over-invoicing in the context of imports.
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