ISLAMABAD: The Federal Board of Revenue (FBR) has enhanced duty drawback rates on the exports of confectionery items from April 26, 2021.

The FBR has amended the SRO 212(I)/2009 through a notification, issued here on Tuesday.

According to an announcement of the FBR, “In line with Prime Minister’s Initiative of Make in Pakistan, FBR has issued SRO 520(I)/2021 dated 26.4,2021 revising duty drawback rates upwards for confectionery items to promote their exports.”

Under the notification, the extent of repayment of customs duty on the exports of biscuits has been increased to 0.54 percent of the Freight on Board (FOB) value.

The repayment of customs duty would be 2.56 percent of the FOB value on the exports of hard boiled candies.

The extent of repayment of customs duty on the exports of toffees and chocolates without flour has been increased to 3.73 percent of the FOB value.

The repayment of customs duty would be 0.56 percent of the FOB value on the exports of jelly products.

The repayment of customs duty would be 3.75 percent of the FOB value on the exports of bubble gums.

Copyright Business Recorder, 2021