The Federal Board of Revenue (FBR) was requested by the All Pakistan Textile Mills Association (APTMA) to eliminate obstacles in the way of the Export Facilitation Scheme 2021’s implementation.
The Export Facilitation Scheme 2021 implementation difficulties were thoroughly examined during a Tuesday visit by a delegation from the APTMA to the FBR Headquarters.
The FBR’s initiative to start the facilitation plan was greatly welcomed by the APTMA delegation. As a delegation told the FBR, “The FBR is doing a wonderful job to support exporters,” according to sources.
The APTMA delegation also provided some recommendations for further streamlining the programme to facilitate exports at a discussion with the tax officials at the FBR House.
The Export Facilitation Program 2021 is anticipated to lower operating expenses and compliance costs, streamline business operations, minimise exporters’ cash flow issues by doing away with sales tax refunds and duty disadvantages for users of the scheme, draw in more users, and ultimately boost exports.
The plan permits local procurement of raw materials used in the production of commodities intended for export as well as indirect exports.
The APTMA delegation informed the FBR that the scheme is not being implemented because of bugs in the software.
Customs officers working at the Model Customs Collectorates level around the nation have understanding concerns that need to be addressed.
The Export Facilitation Program 2021 is anticipated to lower operating expenses and compliance costs, streamline business operations, minimise exporters’ cash flow issues by doing away with sales tax refunds and duty disadvantages for users of the scheme, draw in more users, and ultimately boost exports.
The plan permits local procurement of raw materials used in the production of commodities intended for export as well as indirect exports.
The APTMA delegation informed the FBR that the scheme is not being implemented because of bugs in the software.
Customs officers working at the Model Customs Collectorates level around the nation have understanding concerns that need to be addressed.
To fix software-related problems, the association is working with the FBR. According to insiders, the FBR has already addressed a few of the concerns and will take care of the others soon.
The FBR permitted exporters to sell up to 20 percent of the goods produced using inputs and raw materials that were duty- and tax-free when they were imported under the Export Facilitation Scheme 2021 under SRO 957(I) 2021.
The FBR continuously changed the new system to take exporters’ suggestions into account before eventually releasing the improved approach to help all exporter categories.
The new plan has also changed the Input-Output Coefficient Organization’s (IOCO) authority, responsibilities, and role.
Now, the IOCO will issue a “Analysis certificate” outlining the quantities of input products required for the manufacture of one unit of output goods as well as the ratio of wastages after determining the input and output ratios and the exporter’s production capacity.
