Importers will now have to submit their purchase and sales records to the respective customs house every month, aligning with VAT practices.
The National Board of Revenue (NBR) issued a statutory regulatory order (SRO) in this regard on December 22, but made public on Wednesday.
Experts anticipate that this move will reduce opportunities for concealing imported goods and machinery through unauthorized sales channels.
However, concerns have been raised by businesses regarding the potential impact of regularly submitting records to the customs house, mirroring VAT procedures.
Some argue that this could lead to increased harassment and additional costs for businesses.
In response to potential challenges, the NBR order includes a provision stating that if electronic information is unavailable due to natural disasters or logical reasons, the customs commissioner retains the authority to take necessary actions for assessing imported goods.
