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FBR extends warehousing period till November 25

Waives off penal surcharge

SAMAA | - Posted: Oct 30, 2021 | Last Updated: 3 months ago
Posted: Oct 30, 2021 | Last Updated: 3 months ago

Photo: AFP/File

The federal government has decided to extend the warehousing period and waive off the penal surcharge on overstayed goods which have not been cleared and lying in the Custom Bonded Warehouses.

The Federal Board of Revenue (FBR) issued a notification on Friday stating that the penal surcharge on goods not cleared within the prescribed period has been fully waived off.

The measure has been taken to facilitate the trade industry and commercial importers who have not been able to pay duty and taxes, and clear their goods, the FBR said.

It clarified that the facility is for ex-bond clearances made within 30 days from the date of commencement of the notification up to November 25.

The exemption is applicable on the existing warehousing period of already in-bonded goods for a further period of 30 days from the date of commencement of this notification.

The notification, however, will not apply to the goods which were abandoned or auctioned, the authority said.

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