KARACHI: The Federal Board of Revenue (FBR) is mulling over to transfer the charge and dealing of Statuary Regulatory Order-SRO 565 from Input Output Co-efficient Organization (IOCO) to the field formation Collectorates, it is learnt here.
Sources disclosed that the Director IOCO Shahnaz Maqbool was called by the FBR Chairman Nisar Muhammad Ali and Member Customs Nasir Masroor Ahmed for taking briefing and presentation about the transferring of SRO from IOCO to field formation Collectorates i.e. Appraisement (East), Appraisement (West) and Port Muhammad Bin Qasim.
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The Director IOCO Shahnaz Maqbool has come from FBR Headquarters, Islamabad after attending meetings with the FBR chairman and Member Customs in connection with transferring the authority of SRO-565 from IOCO.
It is pertinent to mention here that around 69 different items related to the concessionary regimes were included in the SRO-565.
Replying to a query, the sources informed Customs Today that the FBR authorities are also mulling over to include Duty Taxes Remission on Exports (DTRE) approval into the ambit of IOCO, adding that the IOCO authorities would likely to be allowed to give DTRE approval to the export consignments.
The sources further said that the Director IOCO Shahnaz Maqbool has already asked the suggestions and recommendations from the authorities concerned of the IOCO in order to make proposal in this regard adding that a final draft in this regard would be evolved by the IOCO authorities in upcoming days and would be submitted to the FBR headquarters-Islamabad after that the final decision would be taken according to the law.
