ISLAMABAD: The Government of Pakistan is set to draft major tax-related measures to facilitate exporters in the budget (2021-22) in a move to increase exports of Pakistan.
As per top government representatives, the government will draft a simplified scheme for exporters namely Finance Bill 2021 that will highlight the new facilitative measures.
Presently, different export schemes are utilised by the exporters. Under the new scheme, all export schemes will be integrated into a single scheme under the Federal Board of Revenue (FBR).
The scheme has been further sent to leading exporter associations for reviews.
Integrated schemes proposed by FBR include simplification of export schemes, reduction in import duties to zero for basic raw materials, automated system for redressals etc.
The FBR revised upwards the duty drawback rates in eight sectors under the “Make in Pakistan” initiative.
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