Staff Reporter Islamabad
Federal Board of Revenue has notified Rules for new Export Facilitation Scheme 2021 which will be effective with effect from 14th August, 2021.
New Export Facilitation Scheme has been approved by Federal Government and passed by Parliament un-der Finance Act 2021.
This Scheme will run parallel with existing schemes like Manufacturing Bond, DTRE and Export Ori-ented Schemes for two year.
The existing old schemes shall be phased out in next two years and will be fully replaced by Export Facilitation Scheme-2021. EFS 2021 Rules can be accessed at official website of FBR.
Users of this Scheme will include Exporters (Manu-facturers cum Exporters, Commercial Exporters, Indirect Exporters), Common Export Houses, Ven-dors and International Toll Manufacturers.
Users of this Scheme shall be subject to authorization of inputs by the Collector of Customs and Director General Input Output Organization (IOCO).
Inputs include all goods (imported or procured lo-cal) for manufacture of goods to be exported. These include raw materials, spare parts, components, equipment, plant and machinery.
No duty and taxes shall be levied on inputs imported by the authorized users and local supplies of inputs to the authorized users shall be zero rated.
