KARACHI: According to traders, the abrupt withdrawal of SRO760 from the Federal Board of Revenue’s (FBR) WeBOC system last week caused gold jewelry exports to come to a complete halt.
In a letter to the FBR, Chairman Habib-ur-Rahman of the Pakistan Gems Jewellery Traders and Exporters Association (PGJTEA) stated that although the SRO permits a number of exclusions, including sales tax, their removal from the WeBOC system has caused the sales tax to be displayed incorrectly as payable.
The removal of the relevant SRO from the system was done without prior notification or explanation. He said that as a result, all gold jewelry exports have been suspended, which has upset the exporters.
