Pakistan Customs is guardian of Pakistani borders against movement of contra band goods and is a facilitator of legitimate trade. A major portion of the government revenue is generated through taxes levied on the goods traded across the borders of Pakistan . It also helps protect the domestic industry of Pakistan, discourage consumption of luxury goods and stimulate development in under-developed areas.
Main documents of the import process are as follows:
- Import General Manifest (IGM)
- Bill of Entry (BOE)
An IGM is generated by a carrier (or his agent), who brings the imported goods into the territory of Pakistan. An importer or his agent in accordance with the documents of import prepares BOE. The goods are then examined and assessed for value by the customs authorities. After payment of customs duty and other taxes at import stage the goods are cleared for home consumption. Removal of goods to a bonded warehouse, provisional release of goods against bank guarantees, trans-shipment of imported goods to up country dry ports and auction of goods not cleared within a stipulated period of time are also part of the import process.
Main document of the export process are:
- Shipping Bill
- Export General Manifest (EGM)
A Shipping Bill is prepared by the exporter or his agent and presented to the customs authorities along with goods to be exported. After examination and valuation of goods, the customs authorities allow the export and rebate is sanctioned against payment of customs duty on the imported raw materials used in the manufacture of such goods. EGM is generated by the carrier (or his agent) taking goods out of Pakistan.
Custom Duty Legislation in Pakistan
- Customs Act, 1969
- Customs Tariff