Pakistan to get insurance guarantee equal to 100perect amount of taxes from Afghan importers.They will give insurance guarantee equivalent to 100percent the amount of duties applicable on goods imported for Afghanistan through Pakistan’s land route. The Federal Board of Revenue (FBR) here on Wednesday notified in this regard.
Custom security in the form of insurance guarantee from an insurance company of good repute shall cover all import levies, including but not limited to customs duty, regulatory duty, sales tax, additional sales tax, federal excise duty, income tax etc, and any other import levy chargeable on goods so carried, the rules revealed.
Afghanistan-Pakistan Transit Trade Rules have also made it mandatory for Afghan transporters to furnish bank guarantee equivalent to 25 % of the duties and taxes on Afghan trucks entering into Pakistan territory for carrying goods to Afghanistan.
