Gold jewelry exports have halted since last week following the sudden withdrawal of SRO760 by the Federal Board of Revenue (FBR).
Chairman Pakistan Gems Jewelry Traders and Exporters Association (PGJTEA) told the tax machinery that the withdrawal of SRO760 from the WeBOC system has disrupted various exemptions, particularly on sales tax, and has resulted in the inaccurate display of sales tax as payable.
Rahman emphasized that the removal occurred without prior notification or explanation, leaving exporters in distress. As a consequence, all gold jewelry exports have come to a standstill.
The abrupt removal of SRO760 has distressed traders, who are urging swift action to resolve the issue and resume gold jewelry export operations.
Editorial & Legal Practice Group
Authored and reviewed by the corporate law and tax litigation practice group at Javid Law Associates. Our team comprises High Court advocates, corporate legal advisors, and authorized tax practitioners across Pakistan.
Advocates High Court & Tax Counsel
Jurisdiction: Pakistan