KARACHI: The Federal Board of Revenue (FBR) has notified rules for the issuance and renewal of licences for shipping agents, making it imperative for them to discharge their tax liabilities, sources said on Wednesday.
The sources in Pakistan Customs said the rules were notified a week ago to streamline the services provided by shipping agents.
A shipping agent is a person or a company, which is engaged on behalf of the principal/owner, charterer or operator of a conveyance, or the owner of the cargo.
The Federal Board of Revenue (FBR) notified the rules for the grant of licences to shipping agents and made them responsible for payment of evaded amount of duty and taxes in case of their negligence.
According to the rules, a shipping agent is responsible to pay the evaded amount of duties and taxes if it is established that evasion has taken place because of their negligence, failure to perform function or because of connivance of its employees or permit holders.
The conditions for a licence include that the person should be citizen of Pakistan, a graduate from a recognised university and have knowledge of computer to handle the import/export general manifest in the Pakistan Revenue Automation (Pvt.) Ltd or Web Based One Customs.
The rules said the renewal of licence would only be granted on the submission of an affidavit that no tax fraud or criminal case had been instituted or finalised from a court of law or tribunal against the licensee.
The shipping agents are required to maintain complete records of its financial transactions and of all the Customs documents, bills accounts, statements and other papers relating to the Customs business for a period of five years, according to the rules.
The Customs laws said shipping agents are responsible to present the actual shipper or consignee whenever required by the customs authorities.
Besides, they are also responsible to intimate customs officials about suspected financial transactions like money laundering or proceeds of crime by its clients.
The Customs authorities said a licence of shipping agent would be revoked any time in case of a licensee was convicted for larceny, theft, robbery, extortion, forgery, counterfeiting or fraud.
The rules said shipping agents should refund security deposit within seven working days after satisfying their accounts.
“In case of any delay in refund of security deposit beyond the terminal period, punitive action shall be initiated,” read the rules.
