Karachi, December 2, 2023 – The Federal Board of Revenue (FBR) has successfully garnered Rs 722 billion through customs duty and sales tax on the import and supply of petroleum products during the fiscal year 2022-2023.
Karachi, November 28, 2023 – The Federal Board of Revenue (FBR) has reported a 7.8 percent drop in customs duty collection during fiscal year 2022-23, attributing the decline to challenges arising from falling imports.
Islamabad, June 9, 2023: Finance Bill, 2023 has proposed amendments to Customs Act, 1969, according to Pakistan Budget 2022-23 released on Friday.
Following are the salient features introduced to Customs Duty through Finance Bill, 2023, according to Pakistan Budget 2023-24 revealed on Friday.
The Federal Board of Revenue (FBR) has announced a reduction in customs duty to 15% for components used in the assembly or manufacture of cars in any kit form.
KARACHI: The Finance Act, 2022 has amended provisions of Customs Act, 1969 to grant exemption and concessions from customs duty. Following are the exemptions and concessions of customs duty: Exemption of Customs Duty and Additional Customs Duty READ MORE: Commodities’ illegal movement to be treated as smuggling Customs Duty (CD) leviable on the import of […]
Pakistan is likely to increase sales tax rate to 18 per cent in the federal budget 2022-2023, which is scheduled on June 10, 2022. The existing normal sales tax rate is 17 per cent. According to Budget Preview 2022/2023 issued on Thursday, analysts at Arif Habib Limited said the government is considering to raise an […]
The Federal Board of Revenue (FBR) has issued an exemption on customs duty for the import of oxygen gas and oxygen cylinders.
Official data released on Monday indicates a remarkable upswing in the collection of customs duty from imported vehicles during the fiscal year 2020/2021, reflecting a staggering 95 percent growth, reaching Rs111 billion. This surge is in stark contrast to the Rs56.85 billion recorded in the preceding year.
ISLAMABAD: The government has announced abolishing duty and taxes on locally manufactured and imported cars with engine capacity up to 850cc to enable low earning families to afford motor vehicles. Finance Minister Shaukat Tarin while presenting federal #budget 2021/2022 on Friday announced duty and tax incentives for sale and import of motor cars with engine […]