ISLAMABAD: Federal Board of Revenue (FBR) has decided to provide duty drawback on 15 types of exports under the Local Taxes and Levy Drawback Order 2018. Drawback rates will be evaluated on the exporter’s yearly productivity.
Official sources told Customs Today that the drawback will be provided on the export of 15 types of goods including football and other sports items, leather garments, surgical and medical equipment, electric fan, auto parts and accessories and furniture. The drawback will be provided from July 2017 to June 30, 2018 under the Local Taxes and Levy Drawback Oder 2018.
Sources also told that the drawback claims will be only acceptable for those exports which comes under the foreign exchange rules of State Bank of Pakistan however, NTN is compulsory the getting the drawback.
Sources further told that 50% of drawback will be provided unconditional however the other 50% of drawback will be provided upon the condition of increase in the exports by the exporter, while on the other hand if the exporter failed to fulfill the conditions or the export decreased and does not fall in the notified circle in this case the exporter will be bound to return double money sources added.
