Custom rulings made available on FBR website: Shabbar Zaidi

ISLAMABAD: Chairman Federal Board of Revenue (FBR), Syed Shabbar Ali Zaidi took to social media today and said that the departments rulings for customs were to be made available on the website, ARY News reported on Wednesday.

The chairman added that the step was being taken to promote and elevate the ease of doing business initiative alongside making the entire process more transparent.

The Tweet read: “In order to further promote transparency and ease in doing business it has been decided that ‘custom rulings’ in force for import valuation will be easily accessible on FBR website. Businesses are suggested to assist in identifying cases of under valuation etc.”

Earlier on November 26, Shabbar Zaidi highlighted the reasons for limited access to loans for small and medium-sized enterprises (SMEs) due to lack of planning.

Shabbar Zaidi, in his statement to the media, elaborated that the low rate of loans to the small and medium-sized sector is witnessed due to undocumented businesses which restricted the SMEs to acquire more loans.

The FBR chairman said that the current figure of industrial and commercial consumers stands at 3.1 million including 43,000 registered as sales taxpayer. He added that the loan rate would not go up until complete documentation of small and medium-sized business sector.