FBR issues notification for amendments in SMEs rules

ISLAMABAD: The Federal Board of Revenue (FBR) on Saturday announced for amendments in the Export Oriented Units and Small and Medium Enterprises Rules 2008, ARY News reported.

The FBR spokesperson made the announcement in Twitter messages regarding the notification released by the board in a bid to increase exports of the country.

It was stated that the decision was taken to simplify the export scheme and provide new incentives for the business community under the leadership of FBR chairman Shabbar Zaidi.

FBR has changed the rules to facilitate Small and Medium Enterprises to enhance exports through Notification No. 1002(I)/2019 dated 06.09.2019 which has introduced amendments in original Notification 327(I)/2008 dated 28.03.2008. 1/3

— FBR (@FBRSpokesperson) September 7, 2019

The Federal Board of Revenue has also automated these processes in the computerized clearance system WeBOC which will further reduce human interaction and create a business-friendly environment, the press release said.

Under the leadership of MrShabbar Zaidi, Chairman, has simplify this export scheme and provided new incentives for the business community. 2/3

— FBR (@FBRSpokesperson) September 7, 2019

Moreover, the FBR chairman directed to update the units of measurement for facilitating trade activities. According to the spokesperson, this exercise will be completed in a week-long time and new units of measurement shall be notified.

 

Besides introducing amendments in the Export Oriented Units Scheme, the Federal Board of Revenue has also automated these processes in the computerized clearance system WeBOC. This will further reduce human interaction and create business friendly environment. 3/3

— FBR (@FBRSpokesperson) September 7, 2019

The revenue board will also address the difficulties being faced by importers and exporters regarding the unit of measurements.

null

null