ISLAMABAD, June 2: The Central Board of Revenue (CBR) is likely to introduce on-line payment of duty drawback to exporters from the next fiscal year.
An official told Dawn on Friday that the decision to this effect was expected to be announced in the budget 2006-07.
Under the new proposed system the goods declaration document would be treated as the rebate claim and there would be no need to file a separate rebate claim as required under the present system.
This would imply that the proof of export sales proceeds would not be required in the future and there would be automatic calculation of the duty drawback amount due on exports at the time of shipment.
As part of the system, it has been proposed that commercial banks would get on-line advice to issue cheques for rebate claims and the modalities of payments are being worked out.
According to the official, there was some resistance from commercial banks to the new system as they were all not fully automated or have system compatible with the on-line rebate payment.
