FBR agrees to pay Rs 8,928 million duty drawbacks to exporters

FBR agrees to pay Rs 8,928 million duty drawbacks to exporters

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Islamabad: The Federal Revenue Service (FBR) agreed to pay rupee on Tuesday. From January 2021 to April 2021, exporters have 8.928 billion tariff reduction requirements.

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.

The total export tax rebate under the fully automated tax rebate system amounts to 12 rupees, reaching 367 million rupees.

This will be of great help in solving the liquidity problem of local industries and will promote the development of an export-oriented economy.

Pakistan Customs is proud that in addition to the cancellation of local taxes and levy (DLTL) payments by the Ministry of Commerce, it has also announced a fully automated rebate system.

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.

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