Sep 14

Additional customs duty reduced to 2% on auto parts

ISLAMABAD: The Federal Cabinet on Tuesday approved the reduction of additional customs duty on import of auto parts from seven percent to two percent. The decision has been taken to promote indigenous production of vehicles in the country. This was disclosed by Minister for Information and Broadcasting Chaudhry Fawad Hussain at a press conference. He […]

by Faisal Shah

Additional customs duty at 7% slapped on imports under tariff slab of 30% and above

Jul 7

Pakistan Customs

Additional customs duty at 7% slapped on imports under tariff slab of 30% and above

ISLAMABAD: The Federal Board of Revenue (FBR) has slapped additional customs duty up to 7 per cent on imports falling under tariff slab of 30 per cent with effect from July 01, 2021. The FBR issued SRO 845(I)/2021 to levy additional customs duty on import of goods specified in the first schedule of the Customs […]

by admin

FBR removes additional customs duty on import of auto disable syringes

Apr 7

Pakistan Customs

FBR removes additional customs duty on import of auto disable syringes

ISLAMABAD: Federal Board of Revenue (FBR) has removed additional customs duty on import of auto disable syringes with or without needles. The FBR issued SRO 367(I)/2021 dated March 30, 2021 and amended the SRO 572(I)/2020 dated June 30, 2020. According to the latest notification the additional customs duty shall not be collected on the import […]

by Anjum Shah

FBR issues SRO to withdraw additional customs duty on raw material import

Jan 28

Pakistan Customs

FBR issues SRO to withdraw additional customs duty on raw material import

ISLAMABAD: Federal Board of Revenue (FBR) has withdrawn additional customs duty on import of raw materials of around 174 tariff lines. The FBR on Thursday issued SRO 81(I)/2021 dated January 22, 2021 to abolish additional customs duty on import of raw materials of 174 tariff lines. The FBR issued the SRO for removal of additional […]

by admin

ECC approves removal of additional customs duty on 152 tariff lines

Jan 6

Finance

ECC approves removal of additional customs duty on 152 tariff lines

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Wednesday approved removal of additional customs duty at 2 percent on import of raw material of 152 tariff lines. Dr. Abdul Hafeez Shaikh Federal Minister for Finance and Revenue chaired the ECC meeting. Federal Minister for Interior Sheikh Rasheed Ahmed, Minister for Privatization Mohammad Mian […]

by admin

FBR abolishes regulatory duty, ACD on various imported goods

Oct 14

Pakistan Customs

FBR abolishes regulatory duty, ACD on various imported goods

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 […]

by admin

FBR imposes up to seven percent additional customs duty

Jun 30

Pakistan Customs

FBR imposes up to seven percent additional customs duty

ISLAMABAD: Federal Board of Revenue (FBR) has started preparation for achieving revenue collection target for fiscal year 2020/2021 as it massively increased additional customs duty up to 7 percent from July 01, 2020. The FBR issued SRO 572(I)/2020 on Tuesday for levying additional customs duty at different rates of two percent, four percent and seven […]

by admin

Cabinet approves gradual reduction in regulatory duty

Nov 20

Finance

Cabinet approves gradual reduction in regulatory duty

ISLAMABAD: The Federal Cabinet has approved gradual reduction in regulatory duty and additional customs duty under first-ever National Tariff Policy (NTP). The federal cabinet, in its meeting chaired by the Prime Minister held on Tuesday November 19, 2019, approved the first-ever National Tariff Policy (NTP). The policy guidelines contained in the NTP, as approved by […]

by Anjum Shah

ECC bans export of wheat to control domestic prices

Jul 17

National

ECC bans export of wheat to control domestic prices

ISLAMABAD: Economic Coordination Committee of the Cabinet (ECC) on Wednesday decided to impose ban on export of wheat and related products in order to control prices in the local market. Adviser to Prime Minister on Finance and Revenue, Dr. Abdul Hafeez Shaikh, chaired the meeting of the ECC. A report on the wheat situation in […]

by Anjum Shah

Feb 12

Taxation