Duty Drawback of Taxes
State Bank of Pakistan (SBP) in its circular Export Policy Order (EPD) No. 16 of 2020 has extended the date for filing the claim of refund of Duty Drawback of Taxes (DDT). SBP has done this on the advice of Ministry of Commerce . The deadline of submission date has been extended from 31 May 2020 to 31 August 2020 and 15 October 2020 for normal and additional DDT claims respectively both for textile and non-textile products. Pakistan had been facing persistent current account deficit and balance of payment crisis. Therefore, Government of Pakistan announces to provide cash subsidiary, as incentive, to export oriented sectors in order to enhance the exports of the country. SBP issued two separate EPD for textile and non-textile sectors in 2018. SBP through circular EPD No. 21 of 2018 dated 26 November 2018 issued DDT Order 2018-21 for textile sector. It allows DDT on predefined rates on the export shipments made from 01 July 2018 to 30 June 2021 of specific products mentione...