ISLAMABAD (October 07 2003): The Central Board of Revenue (CBR) has reduced duty drawback on export of match boxes from October 6, 2003, says a notification issued here on Monday.
The duty drawback has been reduced from 10 percent of the fob value to 2.75 percent of the fob value.
Sources said that Pakistan Match Manufacturers Association (PMMA) was availing extraordinary high duty drawback rates on the import of raw material used in the finished product for the last many years.
On the survey report of Input/Output Coefficient Organisation (IOCO), Karachi, the CBR has made considerable reduction in the rates in consultation with the match manufacturers.
The raw material includes potassium bichromate, paraffin wax., red phosphorous, glue, gum rosin, printing ink, BOPP film, boric acid, sulphur and titanium dioxide.
The CBR has amended standard SRO.415(I)/2001 through another notification to implement the decision.