Latest FBR Releases
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Federal Board of Revenue has announced a Scheme of Export Oriented Units vide Notification No. 327(I)/08 dated 29.03.2008. Under the scheme raw materials and plant, machinery, equipment and apparatus, including capital goods to be used solely within the limits of an Export Oriented Units can be imported free of customs duty, sales tax and federal excise duty. The scheme will essentially have the same incentive as are available to units in EPZs. Existing units exporting at least 80% of production to be registered with FBR under the scheme. New units, so register, will be required to export 100% of their production. Under this scheme time limit for consumption of duty free locally purchased/imported raw materials is two years. |
