ISLAMABAD: The Federal Board of Revenue (FBR) on Friday withdrew regulatory duty on (lead) goods manufactured from imported raw materials in a bid to facilitate exporters. A notification issued by the FBR said that the federal government has amended notification no. SRO-594(I)/2009 dated June 25, 2009. “Provided that no regulatory duty shall be levied on export of goods produced from the material imported (except locally procured material) under the facility of duties and tax remission for export scheme as provided under sub-chapter 7 of chapter XII of the Customs Rules, 2001, or the scheme of manufacturing bonds as licensed under chapter 15 of the said rules”, the notification added. This notification, the FBR said facilitates exporters by withdrawing regulatory duty on (lead) goods manufactured from imported raw materials.
Published in The Express Tribune, August 11th, 2012.