ISLAMABAD: The Federal Board of Revenue (FBR) on Thursday categorically clarified that only overseas Pakistanis are entitled to import vehicles under gift or transfer of residence schemes, which do not involve any outward remittance of foreign exchange from Pakistan.
The FBR has also announced that all luxury vehicles have been assessed by Customs under the Faceless Customs Assessment (FCA) at higher assessed values without causing any loss of revenue.
According to details released by the FBR on Thursday, Pakistan Customs has gradually expanded the scope and coverage of its Faceless Customs Assessment (FCA) to facilitate trade and minimise human interface in the clearance of goods from ports.
Launched in December, 2024, the FCA has deprived many who thrived on the gains made from the old system. They have actively been maligning the FCA to secure its roll back.
One such example is reported stating that Audit report has revealed large scale clearance of luxury vehicles at highly under-invoiced values in the FCA. In particular, example of a 2023 Toyota Land Cruiser has been given that was allegedly assessed at a petty value of Rs 17,635, in the FCA thereby causing huge loss to national exchequer.
On the contrary, it is clarified that the said vehicle was assessed at Rs 10.05 million and an amount of Rs 47.2 million was recovered in duty and taxes. In fact all such vehicles have been assessed by Customs under the FCA at higher assessed values without causing any loss of revenue.
The issue of trade based money laundering has also been alleged in import of these vehicles ignoring the fact that only overseas Pakistanis are entitled to such imports under gift or transfer of residence schemes. These schemes do not involve any outward remittance of foreign exchange from Pakistan. Besides, import of used vehicles in the same manner has been taking place even before the launch of the FCA.
It is also important to mention that internal reviews and Audit of the FCA, which are often time quoted out of context, are being conducted by the FBR itself to ensure that gaps in this new system are timely identified and addressed.
Copyright Business Recorder, 2025
