KARACHI: The Federal Board of Revenue FBR has written a letter to the Director Input-Output Co-efficient Organization (IOCO) in connection with finalization of Duty Draw Back (DDB) rates for the year 2016-17.
According to details, the FBR has asked the IOCO Director Shahnaz Maqbool to ensure completion of the DDB rates and submit a comprehensive report to the FBR headquarters in a month.
As per details, the IOCO Director Shahnaz Maqbool had already called on a meeting of the officials in connection with the pace of work being carried out to finalize the DDB rates.
The sources informed Customs Today that the IOCO authorities concerned have already started their working in this regard.
The sources further said that the Director IOCO Shahnaz Maqbool has also reviewed the pace of work in connection with the determination of DDB rates.
Responding to a query, the sources informed this scribe that the 80per cent working on DDB rates have been finalized adding that the remaining 20per cent working in this regard would be finalized soon.
It is pertinent to mention here that the IOCO authorities concerned have already working tirelessly in determining the DDB rates for the year2015-16. However; those DDB rates have not been implemented adding that the FBR authorities concerned have asked the IOCO authorities to determine new DDB rates for the year2016-17.
