Regulatory Alerts2018-02-08
Added · Updated
FEPD Circular No. 05: Export Subsidy Against Export of Accumulator Battery
The document establishes an export subsidy of 15% on the net FOB value for accumulator batteries (HS codes 8507.10 and 8507.20) manufactured in own factories, effective for shipments from the 2017-2018 fiscal year. Eligibility requires a minimum of 30% local value addition and excludes establishments located in Export Processing Zones (EPZs) or Export Zones (EZs). Exporters must submit applications within 180 days of foreign exchange repatriation, or within 60 days of this circular's issuance for previously expired deadlines, while ensuring no simultaneous claim of duty drawback or bond facilities.
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