FBR to curb under invoicing of imports.

Islamabad -- Federal Board of Revenue Chairman Shabbar Zaidi on Wednesday said FBR is taking measures to curb under invoicing of imports.

In a tweet, the FBR chairman said, 'FBR is seriously working to curb under invoicing of imports. Valuation system and processes are being improved. Nevertheless, FBR seeks the support of business community, including chambers of commerce on this matter. This is highly important to save local industry.'

He said the decision has been taken facilitate importers over imports. He warned importers against under invoicing and low disclosure of imports, adding that strict actions will be taken against violators.

The changes have been made in unit of merriment system and valuation...