GILGIT: The Government of Gilgit-Baltistan (GB) has launched an online portal for issuing Tax Exemption Certificates (TECs) for goods imported through the Khunjerab Border, offering up to Rs4 billion in federal tax relief to eligible local traders and importers.
According to the state-run APP news agency, the initiative follows directives from Prime Minister Shehbaz Sharif aimed at facilitating residents engaged in cross-border trade between Pakistan and China. With the portal now operational, registration for eligible applicants has commenced.
Authorities stated that exemption certificates will be granted on a first-come, first-served basis, subject to scrutiny and compliance with prescribed eligibility criteria.The move is designed to enhance transparency, streamline the certification process, and ensure that benefits reach genuine residents of Gilgit-Baltistan.
Eligibility is limited to permanent residents of GB who are registered with the relevant Chamber of Commerce and are either incorporated with the Securities and Exchange Commission of Pakistan (SECP) or registered under Form “C.”
Each application will undergo automated verification, including NADRA confirmation of residency, validation of SECP or Form “C” registration, Chamber of Commerce verification, and review of a one-year digital annual bank statement.
Applicants must submit a copy of their Computerised National Identity Card (CNIC), relevant registration documents, a digital bank statement for the previous year, and a verification letter from their bank manager. Following successful registration and payment of the prescribed fee, exemption certificates will be issued based on the applicant’s annual bank statement.
The certificates are categorized into four groups: large-scale traders, small-scale traders, youth, and women. Officials added that district-wise population distribution will also be considered to ensure equitable allocation and transparency.
The government expressed optimism that the initiative will stimulate local trade, generate economic opportunities, and promote greater participation of youth and women in business, ultimately contributing to improved living standards in the region.
