ISLAMABAD: The Federal Board of Revenue (FBR) on Friday amended the timeframe to file Annex-H for commercial exporters. In a statement, the FBR said that commercial exporters are an important limb of the overall export body of Pakistan. Availability of Exports Proceeds Realization Certificate also known as Bank Credit Advice (BCA) is one of the important checks that are required for processing of sales tax refund claims of commercial exporters. “The refund rules, however, require filing of refund claims within 4 months (one hundred and twenty days) for all types of exporters. This was a difficulty specific to commercial exporters and the FBR has amended the timeframe for filing Annex-H to facilitate the commercial exporters.”It is believed that this step would encourage and help exporters find new markets and expand Pakistan’s export base at a rapid pace.

Source: Pakistan Today November 06, 2020 18:33 UTC