NTC, FBR sign MoU for electronic exchange of information

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Staff Reporter

Islamabad

Federal Board of Revenue (FBR) and National Tariff Commission (NTC) have signed a Memorandum of Understanding (MoU) for electronic exchange of information for accurate and timely implementation of notifications for levying countervailing, anti-dumping and safeguard duties. The electronic exchange will help save time, reduce cost of doing business and improve efficiency.
INTRA (Integration of Regulatory Authorities) is initiative of FBR (Pakistan Customs) through which regulatory authorities are being integrated with customs automated clearance system. The integration permits electronic exchange of import documents, which are prerequisites for allowing import of certain items under prevailing import policy. The aim is to improve ease of Doing Business in Pakistan by facilitating cross border trade. Customs has already signed MoUs in this regard with State Bank of Pakistan, Engineering Development Board, Provincial Revenue Authorities of KP, Punjab and Sindh. The electronic exchange shall save time and reduce cost of doing business.

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