The State Bank of Pakistan (SBP) has further extended the relaxation of deferred submission of proceeds realization certificate for freight and container detention charges for Afghan Transit Trade consignments for the next nine months.
The regulatory authority also provided the same relaxation to traders for the past six months till March 31, 2022.
According to a directive issued by SBP, based on representations received from various stakeholders and to facilitate Afghan Transit Trade in current circumstances, it has been decided to defer some requirements until December 31, 2022.
As per announcement submission of proceed realization certificate for freight and container detention charges in respect of consignment of Afghan Transit Trade as mentioned in Chapter 14 of Foreign Exchange Manual is being deferred.
In addition, maintaining separate PKR accounts by shipping companies/agents for accepting container detention charges as mentioned in Chapter 14 of the Foreign Exchange Manual is also deferred. The SBP has advised authorized dealers to bring these developments to the notice of all their constituents for meticulous compliance.
Editorial & Legal Practice Group
Authored and reviewed by the corporate law and tax litigation practice group at Javid Law Associates. Our team comprises High Court advocates, corporate legal advisors, and authorized tax practitioners across Pakistan.
Advocates High Court & Tax Counsel
Jurisdiction: Pakistan