ISLAMABAD: The federal government has decided to link existing and new Special Economic Zones (SEZs) with the Web Based One Customs (WeBOC) and Pakistan Single Window (PSW) systems.
In this regard, the Prime Minister’s Office has sought a report from the Federal Board of Revenue (FBR).
In a letter penned by the Board of Investment (BOI), the FBR has been advised to make arrangements for swiftly linking the SEZs with the WeBOC and PSW systems and present a report by the end of current month.
On the other hand, FBR officials said work on the project was under way and a report would be sent to the PM Office shortly. According to documents available with the Daily Express, the letter, sent to the FBR, referred to three other letters dispatched earlier on the similar issue, however, compliance report had not been furnished yet.
Hence, the FBR was directed to issue instructions to the departments concerned for making necessary arrangements for connecting the SEZs to the two systems. According to the letter, the SEZs have been established within their geographical limits under which investors can avail tax exemptions and other financial incentives.
SEZs are being constructed to promote investment and create employment opportunities in the country. To attract investment, the government has offered various incentives in these zones such as tax exemptions and fiscal incentives on imports.
The FBR has also been tasked to introduce new model in Pakistan Revenue Automation Limited’s (PRAL) system, which will allow taxpayers to enter their credentials and other data based on their National Tax Numbers (NTNs).
The IRIS team of PRAL has been advised to develop an application which will allow the sharing of taxpayers’ data on the basis of NTN.
Published in The Express Tribune, February 19th, 2020.
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