In a bid to facilitate exporters/traders, the Federal Board of Revenue (FBR) has successfully developed and rolled out a new module in the WeBOC system for Online Export Facilitation Scheme (EFS) Authorization Application.
The FBR on Wednesday said that the facility can be availed by the exporters after getting registered in the WeBOC system. In this regard, a new feature for this purpose has been added in the WeBOC menu 'Export Facilitation Scheme (EFS) / Export Oriented Unit (EOU) / Manufacturing Bond (MB)'.
As per details, the licence application, which is available in WeBOC system, is to be filled online by the respective traders/exporters. The online EFS application would be submitted to the relevant Customs formation where after initial scrutiny, it would be marked to Regulatory Authority who will further execute the approval process. In both the cases where license is approved either provisionally or finally it will be forward to IOCO or EDB for the issuance of analysis certificate and message will be sent to the trader/exporter.
Developers, builders registered as DNFBPs: FBR defines reporting requirements, role and functions
The federal tax collector has taken a number of steps in recent days. It defined the reporting/documentation requirements, role and functions of the developers/builders registered as the Designated Non-Financial Business and Professions (DNFBPs), in order to meet a FATF requirement.
Meanwhile, FBR has also brought in an additional feature in the WeBOC system whereby the traders can apply online for the license of Common Export House. The Common Export House will provide facility of purchasing imported intermediary goods/raw material to SMEs as well as direct and indirect exporters.
FBR was of the view that this initiative will remove the bottlenecks faced by Small and Medium Enterprises (SMEs) in exporting their goods thus playing an effective role in improving country’s rating on World Bank’s Ease of Doing Business and Trading Across the Borders indices.
The present government has been keen introducing digital reforms, which has lead to an improvement in Pakistan's ranking at the World Bank’s Ease of Doing Business (EODB) Index, as Pakistan improved its position by 28 points from 136 to 108 in WB report for 2020.
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