Friday, 19 August 2022

FBR Reveals Draft Rules for New Export Scheme

The Federal Board of Revenue (FBR) released draft rules for new Export Facilitation Scheme 2021. FBR also called for comments on this new export scheme from industry, exporters and other stakeholders. The new Export Facilitation Scheme has already been approved by the federal government and passed by parliament under Finance Act 2021.

The export scheme will be executed from August 14, 2021. At start this scheme will run parallel with existing schemes like manufacturing bond, DTRE and export-oriented schemes for two years. Then the current old schemes shall phase out in the next two years. Further, it will fully replace by Export Facilitation Scheme 2021.

The important features of the this new export scheme consists minimum documentation and encouraging new entrants and SMEs. This export scheme will completely automated under WeBoc and Pakistan Single Window (PSW).

The new scheme will impact on post clearance compliance checks and audits. Stakeholders and users of this export scheme will include exporters (manufacturers cum exporters, commercial exporters, and indirect exporters), common export houses, vendors and international toll manufacturers.

tax accounting services top tax consultants lahore pakistan

New Export Scheme 2021 | Implementation 14th August | FBR | Federal Board of Revenue | Weboc | Importers & Exporters |

Related posts

Major Internet Service Providers Across Pakistan Faced Internet Down Today

Table of Contents Major Internet Service Providers Across Pakistan Faced Internet Down Today Major…
Read more

Suzuki Cultus Car to Discontinue in Pakistan

Pak Suzuki Motor Company (PSMC) has decided to discontinue Cultus car. According to media reports…
Read more

E-Filing System Implemented in Government Departments

The National Information Technology Board (NITB), a department of the Ministry of Information…
Read more
Subscribe Now

Sign up for  Daily Digest and get the best of News for you.

    Leave a Reply

    Your email address will not be published.