Regulatory Alerts2018-12-11
Added · Updated
FEPD Circular No. 39: Export Subsidy Against Export of Cap
The document establishes an export subsidy for caps manufactured in own factories, set at 10% of the net FOB value, applicable to goods shipped in the 2018-2019 fiscal year. It mandates a minimum local value addition of 30% and prohibits the simultaneous application of export subsidies with duty draw-back or bond facilities. The circular outlines strict application procedures, including a 180-day submission deadline, verification by external auditors, and specific penalties for non-compliance or illegal payments.
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