FBR extends warehousing period up to Nov 25

ISLAMABAD: The federal government on Friday provided relief to the business community by extending the warehousing period and waiving off the penal surcharge on overstayed goods, lying uncleared in the Customs Bonded warehouses.

In this regard, the Federal Board of Revenue (FBR) through a notification stated that penal surcharge on goods not cleared within the prescribed period has been fully waived off.

The measure has been taken to facilitate trade and industry along with commercial importers who have not been able to clear goods on time by payment of duty and taxes.

FBR further clarified that the facility was for ex-bond clearances made within thirty days from the date of commencement of the notification up to November 25.