Written by Hamza Shahnawaz in Taxation New rules establish online bidder registration, a 72-hour bidding process, reserve price safeguards and electronic payment for the disposal of seized and confiscated goods. ISLAMABAD, October 22, 2026: The Federal Board of Revenue (FBR) has introduced an electronic auction mechanism for seized and confiscated goods, establishing a digital framework for bidder registration, bidding, payments and delivery. The FBR issued SRO 1889(I)/2026, introducing Chapter XVII-C on electronic auctions under the rules governing the disposal of seized and confiscated goods. Under the new mechanism, individuals holding a valid Computerised National Identity Card (CNIC) or National Identity Card for Overseas Pakistanis (NICOP) can register online as bidders through the Inland Revenue e-auction module. Registration requires a one-time payment of at least Rs25,000. The system will list auctionable goods with descriptions, quantities, photographs, locations, reserve prices, applicable taxes and duties, inspection arrangements and auction terms. A valuation committee comprising senior Inland Revenue officers will recommend reserve prices, taking into account factors such as depreciation, physical condition and remaining shelf life. Market prices, declared sales tax invoices…