Pakistan's customs department implements International Value (LIVE) system to fight mis-invoicing and optimize revenue.
Pakistan's customs department is implementing the International Value (LIVE) system to combat mis-invoicing and under-invoicing practices. The system links over 150 commodities with international publications and will cover Rs 3.030 trillion worth of imports by September 2024. The move aims to optimize revenue realisation, minimize trade disputes, and ensure regulatory benefits through expeditious clearances and trade facilitation.
April 20, 2024
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