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ISLAMABAD: Following the decision of the government, the Federal Board of Revenue (FBR) has removed five percent administrative obligation on the import of cotton yarn. The FBR gave SRO 1352(I)/2020 on Wednesday to correct SRO 680(I)/2019 dated June 28, 2019, to pull out the administrative obligation on import of cotton yarn till June 30, 2021.

Read More: FBR will question the taxpayers on obscured information

The Economic Coordination Committee (ECC) of the Federal Cabinet in a meeting session, which was held on December 2 had affirmed the expulsion of administrative issues on import of cotton yarn.

The Ministry of Commerce had introduced a proposition before the ECC in matters about the cotton import.

Read More: FBR negates extension for returns filing the last date

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