KARACHI, Dec 10: The Federal Board of Revenue (FBR) has allowed industry to clear imported raw material on payment of three per cent withholding tax on submitting an undertaking and certificate issued by tax authorities.

A decision to this effect was taken on a representation made by Shaikh Shakil Ahmed Dhingra of FPCCI in a meeting with FBR Member Inland Revenue Shahid Asad andMember (Customs) Mumtaz Haider Rizvi.

It was decided that raw material imported by industrial concerns would be cleared by the Customs on payment of three per cent withholding tax but on an undertaking and certificate issued by Regional Tax Office or Large Taxpayer Unit.

Similarly, the Member Customs also directed the Customs authorities to allow export of fresh fruits as per past practice.