By Anzal Amin
ISLAMABAD: The Federal board of Revenue (FBR) on Tuesday agreed to pay Rs. 8,928 million duty drawback claims of exporters during January to April 2021.
Following the vision of Prime Minister Imran Khan, FBR s Pakistan Customs wing has resolved the long-standing stipulation of exporters by paying Rs. 8,928 million duty drawback claims during January to April 2021, Spokesman of FBR said this on his official twitter account. A total of Rs.12, 367 million under the fully automated rebate system has been sanctioned to exporters.
This will go a long way in addressing the liquidity issue of the local industry and shall result in boosting export led economy.
Pakistan Customs takes pride in announcing that the fully automated rebate system is in addition to Drawback of Local Taxes and Levies (DLTL) payments by the Ministry of Commerce.
In line with Prime Minister s Initiative of Make in Pakistan, FBR has issued SRO 520(I)/2021 dated 26.4,2021 revising Duty Drawback rates upwards for confectionery items to promote their exports.
According to SRO 520(I)/2021 dated 26.4,2021 for revision of Duty Drawback rates upwards for confectionery items including imported raw material of all sort of Biscuits, hard boiled candies and all assorted flavors of candies to promote their exports.
Through this SRO Duty Drawback rates also revised upwards on the following confectionery item including the imported raw material of toffees and chocolates without flour including chewable toffees of all sorts, Jelly Products and bubble gums containing 10 percent or more of gum base including inorganic fillers.
