The Federal Board of Revenue (FBR) has commenced the registration procedure for individuals aspiring to become Customs Auctioneers.
In an announcement made on a Friday, the FBR issued an invitation for applications for the registration of Auctioneers as per the regulations stipulated in Rules 50 and 51 of the Customs Rules, 2001, which were officially notified through SRO-450 (1)/2001 dated 18.06.2001.
As per Rule 52 of the aforementioned Customs Rules, the prospective auctioneer is required to meet the following set of criteria for eligibility:
- The individual should be a citizen of Pakistan.
- The age of the applicant must not be below thirty years.
- The applicant should have a minimum of five years of engagement in the auctioning business and should possess a commendable reputation for conducting ethical business practices.
- It is mandatory for the applicant to have an established office within the territory of Pakistan.
- The applicant must be certified by a scheduled bank as being financially stable.
- Membership with the Chamber of Commerce and Industry is a prerequisite.
- The applicant must be an income tax assessee.
Applicants satisfying the above-mentioned qualification prerequisites are encouraged to submit their applications to the FBR on or before the specified deadline of September 5, 2023. This registration process aims to ensure that individuals seeking to engage in the auctioning of customs-related items meet the required standards and possess the necessary credentials.