- The Finance Act 2025 has been passed, introducing changes to Pakistan’s customs duty system.
- Amendments aim to streamline trade procedures and improve customs system efficiency.
- Definitions for Cargo Tracking System and e-bilty have been clarified.
- The threshold for customs duty on low-value imports is set at Rs 1,000.
- Goods assessment under transshipment can occur at various locations as prescribed by the FBR.
- Timelines for goods clearance and warehousing have been relaxed.
- The requirement for a pay order or bank guarantee in duty recoveries is reduced to 25%.
- Sales of goods must be conducted via public auction for transparency.
Source: pkrevenue.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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