ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday abolished regulatory duty and additional customs duty on various raw materials used by textile industry.
The FBR issued SRO 1043(I)/2020 dated October 13, 2020 abolished regulatory duty of 8 percent on various chemicals used as raw material for textile industry.
Besides, regulatory duty imposed at two percent on import of artificial yarn and staple fiber has also been abolished. Besides, the regulatory duty has been reduced from five percent to 2.5 percent on import of woven fabric of synthetic staple fiber.
The FBR issued another SRO 1042(I)/2020 dated October 13, 2020 to withdraw additional customs duty (ACD) on over 100 tariff lines.