In a bid to promote the sports industry and increase revenue from foreign shipments, the federal government has decided to facilitate duty drawbacks on the export of sports goods to the tune of 0.93% to 4.45%.
According to a notification issued by the Federal Board of Revenue (FBR), S.R.O. 900(1)/2021.- the FBR in exercise of the powers conferred by clause (c) of section 21 of the Customs Act, 1969 (IV of 1969), has made further amendment in its Notification No. S.R.O. 210(1)/2009, dated the 5th March, 2009.
Under the amendments, 3.97% custom duty drawbacks will be given to the export of sports goods made of composite or graphite materials (carbon fibre, glass fibre, kevlar aluminum, etc.), ice hockey shaft, 3.39% duty drawback on export of ice hockey blade.
Pakistan exported sport goods worth $192.267 million during July-March (2020-21) against the exports of $222.650 million during July-March (2019-20), a decline of 13.65 percent, according to the Pakistan Bureau of Statistics (PBS).
Sports goods exports fall 13.65pc in 9 months
The FBR notification read 3.76% duty drawback will be provided to export of tennis racket, badminton rackets 3.73%, squash rackets 4.08%, skateboard 2.71%, street hockey exports 3.85%, snooker and golf shafts 3.54%.
On exports of field hockey sticks, 2.53% duty drawbacks will be given, on exports of field hockey with mulberry wooden head and graphite shaft 4.14% on f.o.b value, 3.52% duty drawbacks on exports of badminton racket with aluminum head and graphite shaft, 1.67% on exports of pedal tennis racket, 4.45% on roller hockey exports, 0.93% on exports of baseball made of artificial leather and rubber or rubber foam.
Comments
Comments are closed.