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Around Rs4000m revenue loss to FBR on DTRE violation from 2011-2013

Around Rs4000m revenue loss to FBR on DTRE violation from 2011-2013

KARACHI: Pakistan Customs, on the directives of Federal Board of Revenue, has started to work out on a data of importers and exporters who have been taking undue exemption of Duty/ Taxes Remissions on Exports (DTRE) in importing and exporting their consignments during the period from July, 2011 to December, 2013.

Sources in Pakistan Customs informed Customs Today on condition of anonymity that the department is going to make a list of those importers/exporters who have been involved in becoming beneficiary of taking undue exemptions of DTRE in their import and export consignments during the aforementioned period while incurring colossal loss to national exchequer by not fulfilling the terms and conditions of value addition.

The sources confirmed this scribe that FBR was facing loss worth millions of rupees due to less value addition on export consignments during the period from July, 2011 to December, 2013.

They further revealed that Pakistan Customs has pointed out 37 companies so far, which are involved in violation of DTRE, adding that further working on the data was underway.

According to sources in Pakistan Customs, Alpha Industrial, Arabian Textile Mills, Array Pak Sports International, Ashraf Match (Pvt) Limited, Cider Foods (Pvt) Limited, Colaro Sports, Comfort Knitwear (Pvt) Limited, Crescent Bahuman Limited, Engro Polymer & Chemicals Limited, H Nizam Din & Sons (Pvt) Limited, Helicon Enterprises, Herbion Pakistan (Pvt) Limited, HNR Company (Pvt) Limited, Hussain Can Company (Pvt) Limited, International Textiles Limited, Keystone Enterprises (Pvt) Limited, Khaleej Trading, Lal Industries, Libermann International, Lucky Plastic Industries (Pvt) Limited, M/s Afroze Textile Industries (Pvt) Limited, Master Textile Mills Limited, Nafees Polypack (Pvt) Limited, New-ways Industries, Nigar Apparels, Noorani Plastics, Oberthur Technologies Pakistan (Pvt) Limited, Pak Suzuki Motor Company Limited, Pro-tech Leather Apparel (Pvt) Limited, Qadbros Engineering (Pvt) Limited, Rajco Industries, Roshan Packages (Pvt)  Limited, Shamsi Pakistan (Pvt) Limited, Six star sports works, Star Pak Martial Arts (Pvt) Limited, Tesla Industries (Pvt) Limited, Universal Trading & Commodities were initially involved in violation of DTRE.

Around four thousand million rupees revenue loss is reported in violation of DTRE during the period.