Business-friendly changes made to curb under-invoicing: Shabbar Zaidi

ISLAMABAD: Federal Board of Revenue (FBR) chairman Shabbar Zaidi on Saturday said that the financial body has made substantial business-friendly changes in imports’ system to curb under-invoicing, ARY News reported.

Shabbar Zaidi said in his Twitter message that FBR has made substantial changes in ‘unit of measurement’ system and ‘Valuation Rulings’ with respect to the import of goods. He also suggested importers providing input for making any further improvement or amendment.

He termed the changes as a vital move to cure under-invoicing.

As stated earlier substantial business friendly changes have been made in ‘unit of measurement’ system and ‘Valuation Rulings’ with respect to import of goods. Importers are suggested to provide input for any further improvement/ amendment. This is vital to curb underinvoicng.

— Syed Shabbar Zaidi (@ShabarZaidi) November 16, 2019

On November 13, Syed Shabbar Zaidi had said that the government has decided to take FBR officers on board in the reforms process.

Read: ‘Alhumdullilah, FBR achieves 90 per cent of tax collection target’: Zaidi

The FBR chairman took to Twitter saying, “I thank the honorable Prime Minister for talking to FBR staff at length and greatly humbled by explicit statement that reforms in Federal Board of Revenue will be undertaken after taking FBR officers on board.”

“Furthermore on the same subject the timelines with reference to ‘reorganization’ as given on October 3, 2019 letter shall be put on hold. Meanwhile, we at Federal Board of Revenue shall strive to collect optimum revenue,” wrote FBR chief in another Tweet.