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FBR tightens procedure of cross border trade transaction

ISLAMABAD(Eshfak Mughal):- The Federal Board of Revenue (FBR) has tightened to the procedure of cross border trade transactions by making mandatory to produce certain evidence of identification including FBR’s National Tax Number (NTN) or Free Tax Number (FTN), NADRA’s CNIC and SECP’s Universal Identification Number for conducting cross-border trade transaction.

The FBR issued Pakistan Single Window (Evidence of Identity) Regulations, 2023 on Monday. These regulations shall apply to all users whether individuals, sole proprietorships or bodies corporate registered with the FBR or the SECP, government organizations, diplomatic missions, foreign individuals and businesses or any other commercial and non-commercial entity engaged in cross border trade including import, export and transit as well as the users involved in the provision of trade related services such as customs clearing agents, shipping agents, bonded carriers, logistic operators, warehouse operators, transporters, or any other such business associated with cross border trade, included or intended to be included in the PSW system.

According to the regulations, all persons wishing to conduct a cross border trade transaction must have a valid NTN or FTN issued by FBR. CNIC issued by the NADRA in case the applicant is a Pakistani national, or a company incorporated in Pakistan having one or more Pakistani nationals as partners or directors, Corporate Universal Identification Number (CUIN) issued by SECP in case of a company incorporated in Pakistan, where applicable; a mobile number as registered against the CNIC of the applicant or one of the directors  in case the applicant is a Pakistani national or, as the case may be, a company incorporated in Pakistan having one or more Pakistani nationals as partners or directors and an email address associated with the registered NTN or FTN for receipt of one time password (OTP).

A comprehensive procedure has been elaborated by the FBR to get access to the Pakistan Single Window for cross border trade transactions.

An applicant shall be required to complete the subscription process within a period of two months from the date of payment of subscription fee. In case of expiry of the period of two months, the applicant shall have to start new process.

There is also mention about the refusal, suspension, or cancellation of UID under the regulations introduced by the FBR.

The operating entity may refuse to issue UID, or suspend or cancel the existing UID, if the applicants or the existing subscribers, as the case may be, have been barred from conducting a foreign trade transaction under any applicable national or international law or legal, quasi-legal or administrative order by the authority of competent jurisdiction due to their involvement in smuggling, commercial or customs fraud, identity theft, trade-based money laundering, terrorist financing, terrorism, or contravention of any other national or international law:

These regulations shall come into force at once.

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