Senior officials of the Customs and Excise Department are of the view that the export incentive schemes such as duty drawback
tend to get exploited and cause leakage of revenue.
Government needs to make greater use of penalties including ineligibility for duty drawbacks
to those exporters who indulge in over-invoicing.
Parfetts executive chairman Steve Parfett claimed that the Treasury had massively understated the problem and that the proportion of fraudulently claimed duty drawback
was closer to 95%.
Given the proximity of China to South Korea, such sourcing makes good sense--but even though the agreement allows European automakers their own duty drawback
rights, these would not help them.
Ministers also had substantive discussions to evaluate all possible options for a compromise on the issue of duty drawback
This inference will be more certain if it can be established (i) that for these commodities the duty drawback
rates are higher than the kerb market premium rate on foreign exchange and (ii) that these commodities are such that it is relatively easy to overinvoice them because of the nature of the products.
7 million of charges associated with sponge plant asset impairment, goodwill impairment and duty drawback
Federal Tax Ombudsman Mushtaq Ahmed Sukhera added that FBR should ensure early payment of duty drawback
, income tax and sales tax refunds claims for ensuring smooth flow of cash in Sialkot industry.
Summary: New Delhi [India], Jan 25 (ANI): As a step towards more efficient Input Tax Neutralisation on exports, the Government has enhanced the industry rates of duty drawback
for 102 tariff items, effective Thursday.
The LCCI Vice President Zeshan Khalil said that delay in refund claims and stuck-up duty drawback
are hampering the growth of exports of the country therefore these should be tackled at the earliest.
KARACHI -- The Value Added Textile Export Associations have expressed dissatisfactions over eliminating the 'Role of Associations' in a recent notification of Duty Drawback
Taxes Order 2017-18.
Since they have received duty drawback
, the shipping bills have moved into 'history basket' of the system.
He said the Sialkot exporters were facing problems due to non-clearance of their duty drawback
, sales tax and income tax refund claims.
In May 2014, the DOF said the Office of the Ombudsman dismissed Carlos, who was a tax specialist at the One-Stop-Shop Tax Credit and Duty Drawback
Center, after being sued for 'for failing to disclose all his assets in his SALN,' adding that his dismissal took effect immediately.
180 billion in a bid to boost Pakistan's sagging exports, declaring 7% duty drawback
rates for value-added textile exporters.