{"id":67069,"date":"2020-06-27T10:00:00","date_gmt":"2020-06-27T05:00:00","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=67069"},"modified":"2020-06-24T14:00:22","modified_gmt":"2020-06-24T09:00:22","slug":"fbr-waive-off-surcharges-warehouses","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/fbr-waive-off-surcharges-warehouses.html","title":{"rendered":"FBR agrees to waive off surcharges on warehouses: FPCCI chairman"},"content":{"rendered":"\n<p>Karachi: Federation of Pakistan Chambers of Commerce and Industries (FPCCI) Chairman (Standing Committee) Shabbir Mansha has said that Federal Board of Revenue (BFR) Member Customs (Operation) Syed Tariq Huda has accepted the federation\u2019s proposal on waiving surcharges on bonded warehouses, a news source reported.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/fbr-issues-deadline-paying-taxes-assets-declaration-scheme-2019.html\" target=\"_blank\" rel=\"noreferrer noopener\">FBR issues deadline for paying taxes under Assets Declaration Scheme 2019<\/a><\/p>\n\n\n\n<p>He further stated that the taxation agency has allowed shipping companies to carry out their business operations on Saturdays as well.<\/p>\n\n\n\n<p>As per details, Pakistan Customs gives warehouse services to the importers who can stock their goods for a period of six months without paying advance tax or any other charges. In case businessmen do not move their goods within six months, they are imposed with a fine, which could sometimes cost higher than the actual duty. This is why many businessmen had to abandon their stock, which the government later auctions off.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/govt-use-power-distribution-telecom-data-broaden-tax-base.html\" target=\"_blank\" rel=\"noreferrer noopener\">Govt to use power distribution, telecom data to broaden tax base<\/a><\/p>\n\n\n\n<p>With the FBR now willing to waive off surcharges on goods kept in warehouses for more than six month, the government can increase its revenue. The concession is expected to be implemented from July 1 onwards.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Karachi: Federation of Pakistan Chambers of Commerce and Industries (FPCCI) Chairman (Standing Committee) Shabbir Mansha has said that Federal Board of Revenue (BFR) Member Customs (Operation) Syed Tariq Huda has accepted the federation\u2019s proposal on waiving surcharges on bonded warehouses, a news source reported. Read: FBR issues deadline for paying taxes under Assets Declaration Scheme 2019 He further stated that the taxation agency has allowed shipping companies to carry out their business operations on Saturdays as well. As per details, Pakistan Customs gives warehouse services to the importers who can stock their goods for a period of six months without paying advance tax or any other charges. In case businessmen do not move their goods within six months, they are imposed with a fine, which could sometimes cost higher than the actual duty. This is why many businessmen had to abandon their stock, which the government later auctions off. Read: Govt to use power distribution, telecom data to broaden tax base With the FBR now willing to waive off surcharges on goods kept in warehouses for more than six month, the government can increase its revenue. The concession is expected to be implemented from July 1 onwards.<\/p>\n","protected":false},"author":18,"featured_media":62138,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015,15016],"tags":[32680,32679,32678],"persona":[],"class_list":{"0":"post-67069","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"category-new-developments","9":"tag-fbr-agrees-to-waive-off-surcharges-on-warehouses","10":"tag-fbr-duty-on-warehouses","11":"tag-fbr-surcharges-on-warehouses","12":"cat-15015-id","13":"cat-15016-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FBR agrees to waive off surcharges on warehouses - Zameen News<\/title>\n<meta name=\"description\" content=\"In case businessmen do not move their goods within six months, they are imposed with a fine, which could sometimes cost higher than the actual duty...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/fbr-waive-off-surcharges-warehouses.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FBR agrees to waive off surcharges on warehouses - Zameen News\" \/>\n<meta property=\"og:description\" content=\"In case businessmen do not move their goods within six months, they are imposed with a fine, which could sometimes cost higher than the actual duty...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/fbr-waive-off-surcharges-warehouses.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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