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ISLAMABAD -- The Federal Board of Revenue (FBR) has announced an automated system of export facilitation scheme which will decrease the lead time, promote ease of doing business and minimise the human interaction between exporters and the taxmen.
Federal Government has announced Export Facilitation Scheme in order to boost exports from Pakistan.
Ishaq Dar said to facilitate exporters it has been decided to introduce a consolidate export facilitation scheme which will be implemented after broad based consultations with exporters.
Exporters Facilitation: A consolidated Export Facilitation Scheme to be introduced after broad-based consultation with exporters.
The automated system of Export Facilitation Schemes would decrease the lead time, promote ease of doing business and minimize the human interaction between exporters and the department which will make the overall environment business friendly and increase the rating of Pakistan in 'Doing Business'.
The automated system of Export Facilitation Schemes will decrease the lead time, promote ease of Doing Business and minimize the human interaction between exporters and the department which will make the overall environment business friendly and increase the rating of Pakistan in 'DoingBusiness'.
(8) To promote exports different export facilitation schemes are being simplified and automated to minimize human interaction and expedite processing in a transparent manner.
Pakistan Apparel Forum has proposed the government to simplify the export facilitation schemes instead of rationalising tariffs on the raw materials and intermediate goods.
Olsen said his government had been pleased to assist the wine industry through export facilitation schemes, payroll tax rebates for exporters, trade exhibition and mission programs, and persuading the Commonwealth to drop the damaging proposal for a volumetric tax on wine.
Through the Finance Bill 2019, the government has reduced retention period from 10 years to 5 years of plant, machinery and equipment brought under export facilitation schemes.
124 billion were allowed on the imports of inputs and raw materials by the prospective exporters under different Export Facilitation Schemes. In order to further reduce time lag for exporters, their input/ output ratios are being proposed to be accepted provisionally subject to final determination, without causing any delay in fulfilling export orders.
According to the survey, sales tax exemptions were provided under the export facilitation schemes and general and sector specific SROs.
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