FBR issues draft of rules for new export facilitation scheme 2021
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The draft rules can be accessed at official website of FBR.
ISLAMABAD (Web Desk) - Federal Board of Revenue has issued a draft of rules for new Export Facilitation Scheme 2021, and sought comments from industry, exporters and other stakeholders.
According to an FBR statement, the New Export Facilitation Scheme has been approved by federal government and passed by Parliament under Finance Act 2021.
This scheme will be implemented from 14th of next month, and will run parallel with existing schemes like Manufacturing Bond, Duty and Tax Remission for Exporters and Export Oriented Schemes for two years.
LAHORE: The Pakistan Hosiery Manufacturers and Exporters Association has lauded the Federal Board of Revenue for simplifying the export promotion schemes by developing a single unified scheme, and.
FBR to Address Issues Faced by Exporters Before Unified Export Promotion Scheme
The Federal Board of Revenue (FBR) on Thursday agreed to address all key issues of exporters before issuance of a ‘unified export promotion scheme’ in the next budget (2021-22).
Sources told Propakistani that the assurance has been given by the top FBR officials during a meeting with the exporters’ delegation from Faisalabad. The meeting was held at the FBR Headquarters.
Exporters raised legal and technical issues in the draft scheme and requested to amend the draft. “Every scheme has its own procedure and clubbing all schemes into a single export scheme would have legal complications”, exporters informed FBR Member Customs (Policy).
Say document gives discretionary powers to govt officials, which will lead to corruption
The FBR did not support the proposal of exempting the telecom sector from quarterly advance income tax. PHOTO: PID
KARACHI:
Exporters have rejected the draft presented by the Federal Board of Revenue (FBR) for the simplification of export promotion scheme, saying it is going to make the process difficult.
Towel Manufacturers Association of Pakistan Chairman Feroze Alam Lari said that the draft was just like Duty and Tax Remission for Export (DTRE) scheme rules and gave a lot of discretionary powers to government officials, which would open the doors of corruption and create hurdles in the way of manufacturers and exporters.