The Temporary Importation
Scheme entails suspension/exemption from duties/taxes against securities on import of accessories like buttons, zippers, labels etc.
In response to the Ministry of Commerce's invitation of proposals for enhancing export competitiveness, the forum proposed to simplify Duty and Tax Remission for Exporters (DTRE), Export Oriented Units (EOU), manufacturing bond, temporary importation
and duty drawback for textile exporters.
So far the import of restricted items and raw materials from India is allowed to the export houses, manufacturing bond and temporary importation
In an effort to improve export facilitation schemes DTRU, EOU, ManufacAturing Bond, Temporary Importation
and Duty Drawback the FBR has issued a feedback form for exporters.
The Dubai Chamber of Commerce and Industry is showcasing the Dubai Chamber App and ATA (an international customs document that permits duty-free and tax-free temporary importation
of goods for up to one year).
"Potential steps to ensure that generic markets remain strong include fast-tracking new generic drug applications when competition is limited, allowing temporary importation
of off-patent drugs, and implementing greater oversight of drug company mergers and takeovers," the authors write.
An international customs document, the ATA Carnet facilitates temporary importation
of commercial samples, professional equipment, or goods going to a trade fair or exhibition in 77 countries that are part of the ATA Carnet system.
The ATA Carnet is an international customs document that presents duty-free and tax-free temporary importation
for goods for up to one year.
Zero rating of sales tax is not available on packing material, thereof, the exporters have started importing packing material under temporary importation
schemes, it is therefore proposed that zero rating of packing material may be extended to export oriented sectors.
Foreign vehicles owned by operators in the country without a temporary importation
of Private Motor Vehicle and Foreign Vehicle permit will be impounded effective January 1, the Revenue Authority has announced.
Usoro condemned provisions made on temporary importation
license designed to favour foreign ship owners to the detriment of their local counterparts.