KARACHI: The Federal Board of Revenue (FBR) is mulling over to amend SRO1125 (I)/2011, it is learnt here.
The sources informed Customs Today that the high authorities of the FBR have information that the exporters are currently availing Duty Taxes Remission on Export (DTRE) on the import of packing material without payment of customs duty (CD) and withholding tax (WHT).
The sources further said that the trade is being affected badly with the passage of time with the introduction of SRO1125(I)/2011, adding that the unregistered companies are taking advantage of the entire situation and selling the packing and manufacturing materials at only at 1 percent sales tax (ST).
The sources informed this scribe that the FBR high authorities are decided to resolve the issues with taking all stakeholders on board, as registered suppliers of packing material are in state of agony due to the introduction of SRO1125(I)/2011.
It is pertinent to mention here that the exporters by availing the DTRE facility are importing the packing material without paying customs duty (CD) and withholding tax (WHT) which on one hand, affecting the national exchequer while on the other hand also put a bad effect on registered supplies of packing material.
