The Federal Board of Revenue (FBR) has been decided to allow foreign suppliers to do business in Pakistan, foreign suppliers will be able to set up their registered business here.
According to the FBR, foreign suppliers will also have the authority to establish subsidiary companies, import crude oil and other petroleum products, while selling or exporting petroleum products in the local market, importing petroleum products and exporting them abroad. will also be allowed.
The FBR says that the facility of keeping the imported goods in customs storage facility, foreign suppliers will be able to use warehouse anywhere in Pakistan, they will have to pay warehouse rent, port and other service charges.
According to the notification, dues have to be paid in foreign currency i.e. dollars through banking channels, foreign suppliers or their subsidiaries have to follow the instructions of State Bank and Customs.
