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ISLAMABAD: The exporters would now be required to submit details of the export performance for the last 2-3 years with a summary of foreign exchange realized under the revised Export Facilitation Scheme-2021.

The Federal Board of Revenue (FBR) has made comprehensive amendments in the Export Facilitation Scheme-2021 for the exporters.

The FBR has also amended Customs Rules 2001 through an SRO 917(I)/2023 issued on Friday.

Any applicant/exporter desirous of utilizing the facility may apply online to the Regulatory Collector. The application shall be supported by the export performance for last two or three years whichever is applicable, supported by a summary of foreign exchange realized through e-forms if applicable.

The revised scheme revealed that the FBR has introduced the definition of “online market place” which means an electronic interface such as a market place, e-commerce platform, website portal or similar means which facilitate export of goods, including third party export.

The FBR has also revised the procedure for international toll manufacturing by the exporters. Now, the user shall provide I-Form of nil remittance value for input goods duly approved by the authorized dealer concerned. At the time of import, the system shall debit the revolving insurance guarantee balance of the importer or accept the Indemnity Bond and post-dated cheque, as the case may be, for an amount equivalent to the duties and taxes leviable on the imported goods.

The amended scheme revealed that the Regulatory Collectorate shall issue analysis certificate within 3 days of application by the user provisionally as per declared input output ratios and wastages pending final determination or revision by the input output coefficient organization (IOCO) or engineering development board (EDB), as the case may be.

The quantity equivalent to 100 percent capacity of the producing or manufacturing unit may be approved provisionally by the Regulatory Collectorate, as applied by the user. However, up to fifty percent quantity may be allowed to be used by the time IOCO or EDB, as the case may be, determines output and input ratios.

The Regulatory Authority, on submission of an application by the EFS user, may allow sale or transfer of plant, machinery, equipment and apparatus from one EFS user to another EFS user. In case, both the units fall under jurisdictions of different Collectorates, sale or transfer may be allowed subject to obtaining no objection certificate from the destination Collectorate.

Any stated sale or transfer shall be subject to security and indemnity bond for the remaining period as prescribed in Appendix-Vl deposited at the time of import.

After sale or transfer of plant, machinery, equipment and apparatus, EFS user shall provide certificate to the respective Collectorate to the effect that such sale or transfer has been completed as per prescribed procedure and this procedure shall apply mutatis mutandis in case of merger or acquisition of EFS users, FBR’s amended scheme added.

Copyright Business Recorder, 2023

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