KARACHI: The Federal Board of Revenue (FBR) is mulling over to authorize Input Output Co-efficient Organization (IOCO) in order to deal with the SRO 450(I)/2011.
Sources informed Customs Today that the SRO 450(I)/2011 deals with the issuance of DTRE certificate to the exporters who seek exemption on exporting consignments.
The Model Customs Collectorate (MCC) is currently dealing with the SRO 450(I)/2011 through which the collectorate is issuing DTRE certificates to the exporters.
“The MCC-Export is also referring some cases of the issuance of DTRE certificate to the Input Output Co-efficient Organization (IOCO) on randomly basis resulting in misappropriation, as the MCC-Export, sometimes overlook requisitions during the course of issuing DTRE certificates to the exporters.
It was further stated that the IOCO authorities concerned closely scrutinize the cases in connection with the issuance of DTRE certificates whenever the MCC-Exports refers cases to the IOCO authorities.
The authorities of IOCO recently sent a letter to Federal Board of Revenue (FBR) in which it recommended the FBR to handover the SRO 450(I)/2011 to the Input Output Co-efficient Organization (IOCO) for the proper scrutiny of the DTRE exemption certificates.
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