Finance Bill 2017-18

A BILL to give effect to the financial proposals of the Federal Government for the year  beginning on the first day of July, 2017, and to amend certain laws 

WHEREAS, it is expedient to make provisions to give effect to the financial proposals of the Federal Government for the year beginning on the first day of July, 2017, and to amend certain laws for the purposes hereinafter appearing;

It is hereby enacted as follows:-

1. Finance Act, 2017. (2) It extends to the whole of Pakistan. (3) It shall come into force on the first day of July, 2017 except clauses 2(6), 3(7), 4(10) and 5(3) which shall have effect on the next day of assent given to this Act by the President of Islamic Republic of Pakistan.

2. (IV of 1969), the following further amendments shall be made, namely:- (1) in section 2,-(a) in clause (la),- (i) (ii) after the figure “144”, the word and figure “or 147”, shall be inserted; (b) in clause (x), the word “and” shall be omitted; and 1 Directorate General of China Pakistan Economic (c) in clause (y), for full stop at the end a semicolon and the word “and” shall be substituted and thereafter the following new clause shall be added, namely:-“(z) “controlled delivery” means supervised and coordinated operational activities that allow suspected consignments of prohibited and restricted goods, including items mentioned in clause (s), to pass out of, through or into the territory of Pakistan, with a view to identifying persons involved in the commission of an offence cognizable under this Act.”; (2) in section 3A, in the marginal note, for the words “Federal Board of Revenue”, the word “Customs” shall be substituted; (3) after section 3AA, the following new section shall be inserted, namely:-

“3AAA. Corridor.- The Directorate General of China Pakistan Economic Corridor shall consist of a Director General and as many Directors, Additional Directors, Deputy Directors, Assistant Directors and such other officers as the Board may, by notification in the official Gazette, appoint.”;

(4) in section 7,(a) for the words “Federal Excise”, the words “Inland Revenue” shall be substituted; and (b) after the word and comma “Police,”, the words “including officers of National Highways and Pakistan Motorway Police”, shall be inserted; 2 (5) after section 8, the following new section shall be inserted, namely:-

“8A. Uniform.- The Board may, by notification in the official Gazette, prescribe rules for wearing of uniform by officers and staff of Customs Service of Pakistan.”; (6) in section 19,-  (a) in sub-section (1), for the words "Federal Government", the words and comma "Board, with prior approval of Minister-in-charge, and" shall be substituted; and (b) in sub-section (5), for full stop a colon shall be substituted and thereafter the following provisos shall be added, namely:-

“Provided that all such notifications, except those earlier rescinded, shall be deemed to have been in force with effect from first day of July, 2016 and shall continue to be in force till thirtieth day of June, 2018, if not earlier rescinded: Provided further that all notifications issued on or after first day of July, 2016 shall continue to be in force till thirtieth day of June, 2018, if not earlier rescinded.”; (7) in section 25A, in sub-section (2), for full stop at the end a colon shall be substituted and thereafter the following proviso shall be added, namely:-

“Provided that where the value declared in a goods declaration, filed under section 79 or section 131 or mentioned in the invoice retrieved from the consignment, as the case may be, is higher than the value 3 determined under sub-section (1), such higher value shall be the customs value.”; (8) in section 26, after sub-section (1), the following new sub-section shall be inserted, namely:-

“(1A) Subject to rules, the Board or any officer authorized in this behalf may require any person to provide such information as is held by that person which is required for the purposes of End Use Verification of goods.”; (9) in section 33,-  (a) in sub-section (1), for colon, a full stop shall be substituted and thereafter the proviso shall be omitted; and (b) after sub-section (3), the following new sub-section shall be inserted, namely:-

“(4) No refund shall be allowed under this section, if the sanctioning authority is satisfied that the incidence of customs duty and other levies has been passed on to the buyer or consumer.”; (10) in section 98,- (a) in sub-section (1), in the proviso, the following new clause (b) shall be inserted and thereafter the existing clause (b) shall be re-numbered as clause (c) , namely:-

“(b) by the Chief Collector of Customs, for a period not exceeding one month in case of notified perishable goods 4 Such agency or person or port authority shall be liable penalty exceeding five hundred thousand to a not 14A”; and and a period not exceeding three months in case of non-perishable goods; and”; and (b) in sub-section (3), for the word “limit”,  the word “regulate” shall be substituted; (11) in section 155F, the brackets and figure “(1)” shall be omitted and after the second proviso, the following third proviso shall be inserted, namely:-

“Provided also that a person aggrieved by an order of the Collector, cancelling or confirming the suspension of his unique user identifier, may, within thirty days of communication of such order, prefer an appeal to the Chief Collector who may pass an order annulling, modifying or confirming the order passed by the Collector.”; (12) in section 156,-

(a) in the TABLE, after clause 7, in the first column and entries relating thereto in the second and third columns, the following new clause and entries relating thereto shall be inserted, namely:-

“7A If any agency or person including port authorities managing or owning a customs port, customs airport or a land customs station or a container freight station, fails to 5 Rupees. entertain a delay and detention certificate issued by the officer of Customs, (b) after omitted sub-section (3), the following new sub-section shall be inserted, namely:-

“(4) Notwithstanding anything contained in this Act, the Board may, by notification in the official Gazette, regulate the imposition, including the time and manner, of any penalty specified in sub-section (1).”; (13) in section 193, in sub-section (1), for the word “and”, a comma shall be substituted and after the figure “179”, the expression “and 195”, shall be inserted; (14) in section 194A, in sub-section (1), for clause (d), the following shall be substituted, namely:- “(d) an order passed under section 195 by the Board or an officer of Customs not below the rank of an Additional Collector;”; (15) in section 195, in sub-section (1), (a) after the word “Customs”, the expression “or the Collector of Customs (Adjudication)” shall be inserted; (b) the words “and may pass such order as it or he may think fit”, shall be omitted; 6 Power to enter into mutual legal assistance (c) for the colon, a full stop shall be substituted and thereafter the following new sub-section (1A) shall be inserted, namely:-

For Complete bill see the following link

https://www.thenews.com.pk/assets/front/pdf/financbill.doc