ایف بی آر کی پریس ریلیز

FBR Extends Warehousing Period and Waiver off Penal Surcharge on overstayed Warehoused goods.

Federal Board of Revenue has issued a notification No. SRO 595(1)/201 dated 10th June 2011 whereby penal surcharge on goods not cleared within the prescribed period has been fully waived off. The FBR has provided relief to the business community by extending the warehousing period and waiving off the penal surcharge on overstayed goods, lying un-cleared in the Customs Bonded warehouse. This measure has been taken to facilitate the trade and industry and commercial importers who have not been able to clear their goods in time on payment of duty and taxes. This facility is for ex-bond clearances to be made for the period from 10.06.2011 to 30.06.2011.