The Federal Board of Revenue is likely to continue federal excise duty (FED) exemption on the viscose staple fibre till March 31, 2009. Sources told Business Recorder on Saturday that the board is expected to issue a notification here on Monday (January 5) for continuation of the FED exemption on this item.

Under the SRO 677(I)/2007, the government had exempted whole of excise duty leviable on viscose staple fibre upto October 15, 2007. Later the exemption was extended till December 31, 2008. Now, the board has decided to further extend this exemption upto March 31, 2009.

Copyright Business Recorder, 2009