The FTO has ordered the Federal Board of Revenue (FBR) to team up with the State Bank of Pakistan (SBP) and tackle two major hurdles you’ve been facing:
Remember how open-account transactions used to give you nightmares? Banks holding up payments because of price discrepancies between your declaration and customs’ assessment for imported raw materials?
The FTO has ordered FBR to work with SBP to fix this issue, ensuring smooth and timely payments for your suppliers.
Ever felt like your value addition calculations were stuck in a maze? With import costs inflated by valuation rulings, exporting those finished goods became an uphill battle. But worry not! The FTO has directed FBR to review this system and ensure that your actual value addition, not arbitrary calculations, determines your export eligibility.
This FTO order is like a beacon of hope for the Pakistani export scene. By encouraging collaboration between FBR and SBP, it paves the way for quicker processing, clearer regulations, and ultimately, a boost for your business. Get ready to see those export numbers soar!