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FBR creates regulatory authority, devolves powers to additional collector

FBR creates regulatory authority, devolves powers to additional collector

LAHORE: Federal Board of Revenue (FBR) created a Regulatory Authority and the powers have been devolved to additional collector for granting, re-validating or amending EOU licenses.

In the new scheme, if there are any problems, the businessmen can approach Chief Collector of Customs for redressal of their grievances. In order to alleviate the burden of getting the analysis card issued from Input Output Coefficient Organization (IOCO) or Engineering Development Board (EDB) against each license, now if ratio in the analysis certificate is similar to the ratio determined in the previous year, then the Regulatory Authority will issue the license without seeking recommendations from IOCO/EDB.

Moreover, the provision for issuance of the provisional analysis certificate has also been provided in the Export Oriented Unit Rules in case of delay caused by IOCO/EDB so that the processes of the Export Oriented Units may not get delayed.