Glossary_E
Glossary of Tax and Trade Terms
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
E&OE: Errors and Omissions Excepted; a phrase accompanying the shippers signature on an invoice, bywhich hedisclaims final responsibility for typographical errors or unintentional omissions.
e-declaration administrator means an officer not below the rank of an Additional Collector of Sales Tax, authorized by the Collector for the purpose of administration of the scheme envisaged under these rules; [Sales Tax Rules, 2006]
e-intermediary means a person appointed as e-intermediary under section 52A for filing of electronic returns and such other documents as may be prescribed by the Board from time to time, on behalf of a person registered under section 14; [The Sales Tax Act, 1990]
electronic data interchange (EDI) ” means a system of secure transmission of electronic information, based on an agreed and internationally accepted standards and can be understood and treated automatically without human intervention; [Sales Tax Rules, 2006]
electronic duty drawback filing and payment system means Electronic Duty Drawback Filing and Payment System as specified by the rules; [Pakistan Customs Act, 1969]
electronic invoicing means electronic transmission and storage of sales tax invoices, without the delivery of paper documents; [Sales Tax Rules, 2006]
Electronic Sales Tax Return Form means a form of sales tax return available on the [Federal Board of Revenue]’s website to be filled in and filed in terms of sub-rule (4) of rule 18; [Sales Tax Rules, 2006]
EMC: Export Management Company, handles foreign business for one or more firms, usually on a retainer and commission basis. Maintains very close relationship with the firm(s) he represents and conducts business in the name(s) of the firms(s) he represents or in his own name. Offers many of the advantages of a private export department.
engineering goods includes goods classified under Chapter 72 to Chapter 96 of the First Schedule of Customs Act, 1969 or as approved by the Engineering Development Board (EDB),[Pakistan Customs Rules, 2001]
establishment means an undertaking, firm or company, whether incorporated or not, an association of persons or an individual; [The Sales Tax Act, 1990]
estimated time of arrival (ETA) means the date and time as reported through vessel intimation report (VIR), at which the vessel is due to arrive at the pilot grounds; [Pakistan Customs Rules, 2001]
estimated time of departure (ETD) means the date and time as reported through VIR, at which the vessel is due to depart from a berth in Pakistan; [Pakistan Customs Rules, 2001]
Ex: From points of origin such as ex-factory, ex-mill, ex-barge. Price quoted applies only at the point of origin, and the seller agrees to place the goods at the disposal of the buyer at the agreed place within a
EXCHANGE RATE: This price of one currency in terms of another, i.e. the number of units of one currency that may be exchanged for one unit of another currency.
execution means steps taken for the recovery of arrears under this chapter in pursuance of a demand notice; [Pakistan Customs Rules, 2001]
exempt supply means a supply which is exempt from tax under section 13; [The Sales Tax Act, 1990]
export is as defined in Imports and Exports Controls Act 1950 (Act XXXXIX of 1950), and includes passing into the territory of an Export Processing Zone duly authorized cargo from the tariff area of Pakistan. [Pakistan Customs Rules, 2001]
export manifest means export manifest delivered under sub-section (2) of section 53 and includes electronically filed export manifest; [Pakistan Customs Act, 1969]