April 26, 2024

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Pakistan Revenue

Tag: Customs Act 1969

Budget 2022/2023: Salient features of customs duty act
Jun 11
Budget 2022-2023, Pakistan Customs

Budget 2022/2023: Salient features of customs duty act

ISLAMABAD: Following are salient features of amendments made to Customs Act, 1969 through Finance Bill, 2022. GUIDING PRINCIPLES (a) Remove anomalies in cascading structure of tariff. (b) Promote and protect domestic industry by introducing targeted interventions. (c) Rationalizing tariffs on industrial raw materials / intermediate goods. READ MORE: Budget 2022/2023: Salient features of sales tax […]

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Valuation of goods to determine duty and taxes
Jun 10
Taxation

Valuation of goods to determine duty and taxes

Section 25 of Customs Act, 1969 has explained valuation of goods to determine duty and taxes. The Federal Board of Revenue (FBR) issued updated Customs Act, 1969 up to June 30, 2021. The act has been updated by making amendments brought through Finance Act, 2021. Following is the text of section 25 of the Customs […]

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Customs clearance procedure for derelict consignments
Jun 8
Taxation

Customs clearance procedure for derelict consignments

Section 23 of Customs Act, 1969 explains customs clearance procedure for derelict and wreck consignments. The Federal Board of Revenue (FBR) issued updated Customs Act, 1969 up to June 30, 2021. The act has been updated by making amendments brought through Finance Act, 2021. Following is the text of section 23 and 24 of the […]

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Re-importation of goods manufactured in Pakistan
Jun 7
Taxation

Re-importation of goods manufactured in Pakistan

Section 22 and 22A of Customs Act, 1969 explains re-importation of goods manufactured in Pakistan and temporary export of imported plant and machinery. The Federal Board of Revenue (FBR) issued updated Customs Act, 1969 up to June 30, 2021. The act has been updated by making amendments brought through Finance Act, 2021. Following is the […]

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FBR may defer duty collection through special order
Jun 6
Taxation

FBR may defer duty collection through special order

Section 21A of Customs Act, 1969 has empowered Federal Board of Revenue (FBR) to defer imposition of custom duty through especial order. READ MORE: Govt. may exempt customs duty in emergency situation The Federal Board of Revenue (FBR) issued updated Customs Act, 1969 up to June 30, 2021. The act has been updated by making […]

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FBR’s power to allow goods without duty payment
Jun 2
Taxation

FBR’s power to allow goods without duty payment

Section 21 of Customs Act, 1969 has explained power to deliver certain goods without payment of duty and to repay duty on certain goods. The Federal Board of Revenue (FBR) issued updated Customs Act, 1969 up to June 30, 2021. The act has been updated by making amendments brought through Finance Act, 2021. Following is […]

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FBR’s power to notify customs tariff
May 30
Taxation

FBR’s power to notify customs tariff

Section 18E of Customs Act, 1969 has empowered the Federal Board of Revenue (FBR) to make changes in Pakistan Custom Tariff. The FBR issued updated Customs Act, 1969 up to June 30, 2021. The act has been updated by making amendments brought through Finance Act, 2021. READ MORE: Detention of goods violating customs act Following […]

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Customs duty rates under international treaties
May 29
Taxation

Customs duty rates under international treaties

Section 18C of Customs Act, 1969 determined rate of duties in Pakistan under international treaties. The FBR issued updated Customs Act, 1969 up to June 30, 2021. The act has been updated by making amendments brought through Finance Act, 2021. Following is the text of section 18C of the Customs Act, 1969: 18C. Rates of […]

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