Islamabad: The Federal Board of Revenue (FBR) has implemented significant changes to the Export Facilitation Scheme-2021 requiring exporters to submit their export performance details for the past 2-3 years, along with a summary of foreign exchange realized, according to news published in the leading newspaper on July 14.
As per the details, the board has modified the Customs Rules 2001 through SRO.917(I)/2023. It was shared that to utilize the facility, exporters must apply online to the Regulatory Collector, providing their export performance for the relevant period and a summary of foreign exchange realized through e-forms, if applicable.
The revised scheme includes a new definition for “online marketplace,” encompassing electronic interfaces like marketplaces, e-commerce platforms, and website portals that facilitate the export of goods, including third-party exports.
Furthermore, the FBR has revised the procedure for international toll manufacturing by exporters. Users must now provide an I-Form of nil remittance value for input goods, approved by the authorized dealer concerned.
Iqra holds BS in International Relations and is passionate about writing engaging content on trending real estate topics. When not working, she is either spending time with family, shopping, or discussing shows & movies.
