KARACHI: Pakistan Customs and the China Customs have signed an agreement to establish Electronic Data Interchange (EDI) aimed at reducing the incidences of revenue losses/under invoicing.
The sources told Customs Today that the Pakistan Customs, after the agreement was signed in China, procured software/machines for the EDI establishment.
The EDI would help access trade documents on real time basis from computers of cross-border customs stations besides plugging the revenue losses which account to billions of rupees.
It is recalled here that Federal Board of Revenue issued an alert regarding mis-declaration in imports from China under 50 HS Codes. The Board also showed concerns on the un-warranted concessions granted under various SROs covering preferential or free trade agreements.