ISLAMABAD: Federal Board of Revenue (FBR) has issued instructions to all Customs Collectorates to strictly verify exports to Afghanistan and take appropriate action for determination of input output ratio units operating in Export Processing Zones.
According to FBR sources, Federal Board of Revenue has directed to the field formations to ensure that duty and taxes are paid when input goods are removed from Export Processing Zone to tariff area and limits provided in the rules are observed, and also ensure that customs authority has trail of raw material and input goods from import to export.
Federal Board of Revenue has asked them to ensure that action is being taken for recovery of adjudged revenue and cases under court are pursued and also make sure the completeness and correctness of accounting of goods imported in export processing zone, manufacturing finished goods and exported.
FBR also asked to ensure implementation of rules and regulations and to point out lacuna or any lapse in rules for export processing zone as compared to other SROs relating to giving incentive of duty free imports for increasing exports of Pakistan.
Federal Board of Revenue recommended to field formations to develop an efficient system to watch trail of activities of investors from import of raw material till export of output goods.
Federal Board of Revenue has also directed to all industrial units and investors of export processing zone for maintenance of stock register. It is important to mention here that objective to establish the Export Processing Zones was to accelerate the pace of industrialization in the country by providing quality of services at one window.
