KARACHI: The Input-Output Co-efficient Organization (IOCO) of Federal Board of Revenue (FBR) has started to conduct firm scrutiny on issuance of Duty Taxes Remission on Exports (DTRE) certification.
The sources informed Customs Today that the Model Customs Collectorate (MCC) Exports has sent a list of importers/exporters with a view to check the DTRE exemption on imported and exported consignments. The sources further disclosed that the IOCO authorities concerned are vigilantly scrutinizing the issuance of DTRE certification as per the requisition by the authorities concerned of MCC Exports.
The sources revealed that the MCC Exports are issuing 80 percent DTRE certification without consulting with the IOCO concerned authorities which is increasing the chances of misusing the DTRE certification. The sources demanded of the FBR authorities concerned to refer DTRE exemption application of the exporters and importers to the IOCO authorities concerned before issuing the same.
FBR authorities have already highlighted and pointed out massive amount of tax evasion in term of misusing the DTRE certification in importing and exporting of consignments.
