If the government removes all the red tape from DTRE
and makes it practical and simple, auto engineering exports will go up manifold as production cost will be cut by at least 15%, he added.
LAHORE -- Duty and Tax Remission for Export (DTRE
) for packing material should not be allowed to exporters/export houses, while SRO 491 should be implemented on DTRE
The turn over tax of last three years has been terminated, all the refunds of business community would be paid till September 30 2015, approval for allowing export of perishable goods to Afghanistan in local currency and allowing ghee mills to export 1000 metric tones of oil to export under DTRE
scheme, Faud explains.
Ironically, a Sales Tax of 2% has been imposed on local procurement of edible oil which is going to cause increase in an essential consumer item while export quota under DTRE
for Edible Oil has been increased from 1000 Metric Tons in 3 months to 3000 metric tons in 3 months to the exporters in KPK.
The APTMA, on the positive side applauded the inclusion of Polyester Staple Fiber in the DTRE
regime and the substitution of section 73 of Sales Tax Act 1990.
Advisers to the company on the transaction were Berwin Leighton Paisner and DTRE
, the company added.
They said that the problem will be aggravated in view of the fact that most of the large exporters/exportet houses will obtain DTRE
for import or local purchase of various items including packing material.
Quota for ghee and vegetable oil under DTRE
for export to Afghanistan and Central Asia is proposed to be enhanced three times from 1000 Metric Ton per 90 days to 1000 Metric Ton per month;
He said that the quota for ghee and vegetable oil under DTRE
for export to Afghanistan and Central Asia is proposed to be enhanced three times from 1000 Metric Ton per 90 days to 1000 Metric ton per month, it will help to create employment in the province and will increase exports of Pakistan and reduce trade deficit of the country as well.
The decision to accede to the long standing demand of the exporters to allow duty drawback on sales tax paid inputs procured locally under the DTRE
regime removes a major impediment in the way of implementation of this scheme and should pave the way for removing a major irritant in the textile trade provided it is enforced to their satisfaction.
Savills Investment Management and Canmoor, advised jointly by Savills, Friar Commercial and DTRE
, have let the first office suite at the newly refurbished Greenwood in Bracknell to Micron Europe Ltd and has placed a further 16,500 sq ft (1,532 sq m) under offer to two separate parties.
JLL acted for LondonMetric and DTRE
acted for the vendor on Wakefield.