Industries given Rs6 billion under DLTL schemes

Aug 24

Taxation

Industries given Rs6 billion under DLTL schemes

ISLAMABAD: Industries have been given an amount of Rs.6 billion under drawback on local taxes and levies (DLTL) schemes, adviser to prime minister on Commerce and Investment Abdul Razak Dawood said on Tuesday. This includes Rs. 5.6 billion for Textiles sector and Rs. 400 million for Non-Textile sector, the Adviser said this on his official […]

by Hamza Shah

FBR releases Rs8.92bn against duty drawback claims

Apr 27

Pakistan Customs

FBR releases Rs8.92bn against duty drawback claims

ISLAMABAD: Federal Board of Revenue (FBR) has issued an amount of Rs8.92 billion against duty drawback claims during last four months, according to a statement issued on Tuesday. The FBR said that following the vision of Prime Minister, Pakistan Customs wing has resolved the long-standing demand of exporters by paying Rs. 8.92 billion duty drawback […]

by Anjum Shah

Ministry releases Rs2.5 billion under DLTL to support exporters

Apr 23

Trade & Industry

Ministry releases Rs2.5 billion under DLTL to support exporters

ISLAMABAD: The ministry of commerce has released Rs2.5 billion under Drawback of Local Taxes and Levies (DLTL) to support the exporters in resolving liquidity issues. Abdul Razak Dawood, Adviser to Prime Minister of Pakistan for Commerce and Investment, in a tweet on Friday said that the ministry of commerce had released Rs1.15 billion for the […]

by Anjum Shah

FBR issues rules for processing duty drawback claims

Jun 30

Pakistan Customs

FBR issues rules for processing duty drawback claims

ISLAMABAD: Federal Board of Revenue (FBR) on Monday issued draft rules for processing duty drawback claims in order to speedy repayment of exporters. The FBR issued SRO 561(I)/2020 to amend Customs Rules, 2001 for processing and sanctioning of duty drawback claims. The FBR said that the claims of duty drawback shall be sanctioned by the […]

by Anjum Shah

FBR allows repayment of customs duty on import of plastic raw material

Jun 3

Pakistan Customs

FBR allows repayment of customs duty on import of plastic raw material

ISLAMABAD: Federal Board of Revenue (FBR) has allowed repayment of customs duty at Rs5.42 per kilogram on import of raw material for manufacturing of plastic goods meant for export. The FBR on Tuesday issued SRO 461(I)/2020 to amend SRO 212(I)/2009 to allow repayment of export duty on import of raw material. Through the instant SRO […]

by Anjum Shah

Textile exporters demand extension in filing duty drawback claim

May 20

Trade & Industry

Textile exporters demand extension in filing duty drawback claim

KARACHI: Textile exporters have demanded the commerce ministry of allowing extension in filing claims for duty drawback up to July 31, 2020. Pakistan Hosiery Manufacturers Association (PHMA) in a statement on Tuesday said that the commerce ministry should consider extension in cut-off date of submission of incremental claims of Duty Drawback on Taxes (DDT) for […]

by Anjum Shah

FBR allows duty drawback on supplementary food items

May 6

Pakistan Customs

FBR allows duty drawback on supplementary food items

ISLAMABAD: Federal Board of Revenue (FBR) has allowed duty drawback on import of ready to use supplementary food, which included palm oil and skimmed milk. The FBR on Tuesday issued SRO 341(I)/2020 to allow 5.33 percent freight on board (fob) to the extent of customs duty. The duty drawback is available from April 27, 2020. […]

by Faisal Shah

FBR asks exporters to provide IBAN for duty drawback transfer

Apr 10

Pakistan Customs

FBR asks exporters to provide IBAN for duty drawback transfer

ISLAMABAD: Federal Board of Revenue (FBR) has asked exporters to provide their IBAN of their bank account numbers for direct transfer of customs duty drawback. The FBR said that it has devised a centralized system of online payment of customs duty drawback directly in the bank account of the exporters. For this purpose, FBR has […]

by Anjum Shah

FPCCI laments delay in releasing refunds, duty drawback

Feb 21

Trade & Industry

FPCCI laments delay in releasing refunds, duty drawback

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has lamented delay in issuance of refunds and duty drawback to exporters. Engr. Daroo Khan Achakzai, FPCCI, President in a statement on Thursday urged the Finance Minister Asad Umar to release the exports sector’s overall outstanding refund claims including deferred claims; Customs Duty Drawback; DLTL […]

by Faisal Shah

Commerce ministry adds non-textile product to claim drawback

Feb 4

Taxation

Commerce ministry adds non-textile product to claim drawback

ISLAMABAD: The ministry of commerce has issued corrigendum to SRO 711(I)/2018 dated June 08, 2018 and added another meat product for allowing non-textile drawback of duty and taxes. The ministry in a notification said that in the SRO No. 711(I)/2018 dated June 08, 2018 issued by the ministry of commerce and textile (commerce division), in […]

by Anjum Shah