Tag: customs duty

Customs duty concessions allowed on 1650 raw materials

KARACHI: The government has allowed customs duty concessions on import of 1650 raw materials through Finance Bill 2019.

According to Deloitte Yousuf Adil, Chartered Accountants, the Finance Bill proposed to introduce concession of Customs Duty on import of 1650 raw materials/industrial inputs.

Major items are listed as follows:

PCT code	Description	Rate
2710.1911	Kerosene	0
2710.1913	J.P.4	0
2710.1998	Spin finish oil	0
2711.1200	Propane	0
2711.1300	Butanes	0
2711.1400	Ethylene, propylene, butylene and butadiene	0
2711.1910	L.P.G.	0
2711.1990	Other	0
2711.2100	Natural gas	0
2711.2900	Other	0
2805.1200	Calcium	0
2805.1900	Other	0
2805.4000	Mercury	0
2808.0010	Nitric acid	0
2808.0090	Sulphonitric acids	0
2809.1000	Diphosphorus pentaoxide	0
2809.2010	Phosphoric acid	0
2814.1000	Anhydrous ammonia	0
2814.2000	Ammonia in auqeous solution	0
2817.0000	Zinc oxide; zinc peroxide.	0
2818.3000	Aluminium hydroxide	0
2819.1000	Chromium trioxide	0
2819.9010	Chromium oxide	0
2819.9020	Chromium hydroxide	0
2936.2100	Vitamins A and their derivatives	0
2936.2200	Vitamin B1 and its derivatives	0
2936.2300	Vitamin B2 and its derivatives	0
2936.2400	D- or DL-Pantothenic acid (Vitamin B3 or Vitamin B5) and its derivatives	0
2936.2500	Vitamin B6 and its derivatives	0
2936.2600	Vitamin B12 and its derivatives	0
2936.2700	Vitamin C and its derivatives	0
PCT code	Description	Rate
2936.2800	Vitamin E and its derivatives	0
2937.1200	Insulin and its salts	0
3002.9010	Human blood	0
3002.9020	Animal blood	0
3105.2000	Mineral or chemical fertilisers containing the three fertilising elements nitrogen, phosphorus and potassium	0
8427.1000	Self- propelled trucks powered by an electric motor	0
8433.6000	Machines for cleaning, sorting or grading eggs, fruit or other agricultural produce	0
8436.8000	Other machinery	0
8444.0000	Machines for extruding, drawing, texturing or cutting man- made textile materials.	0
8530.1000	Equipment for railways or tramways	0

June 20, 2019

Finance Bill 2019: reduced duty rates proposed for various imported goods

KARACHI: The government has announced reduction in customs duty on import of various goods. The reduction in duty has been proposed through Finance Bill 2019.
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June 17, 2019
Finance Bill 2019: duty exemptions on various imported goods proposed

KARACHI: The government has proposed exemptions from customs duty on import of various goods through Finance Bill 2019.

According to A. F. Ferguson & Co. Chartered Accountants Firm the Finance Bill 2019 has proposed exemption from customs duty is proposed on following items:

– Various industrial inputs / raw materials

– Pharmaceutical products

– Plastic film medical grade

– Fertilizers

– Plant and machinery for setting up Hydrocracker plants for oil refining

– Raw skins and hides

– Machinery parts and items relating to textile industry

– Solar air water generator

– Raw material for paper industry

– Wood

– Certain raw materials used in manufacture of home appliances subject to certain conditions

– Raw material and components for local manufacture of Hemodialyzer, used in hydrolysis equipment by kidney failure patients

June 17, 2019
Budget 2019/2020: Salient features of customs duty

ISLAMABAD: The government has announced changes in customs duty regime which included relief and revenue measures.

RELIEF MEASURES

1. To standardize printing and preservation of Holy Quran, import of good quality duty free Art paper is being allowed.

2. Exemption of CD on 18 medicinal inputs/items

3. Exemption of CD on Modular/ Particle Free Operation Theatre

4. Exemption of CD on Medicines for certain rare diseases

5. Incentive to promote tourism by reducing duty on pre-fabricated structures for hotels

INCENTIVIZING LOCAL INDUSTRY:

1. Exemption of CD on more than 1650 raw materials/industrial inputs

2. Reduction of CD on Writing & Printing Papers

3. Exemption of CD on Raw- materials of Paper Industry

4. Exemption of CD on import of Wood

5. Reduction of CD on Glass Board for LED Panel manufacturing

6. Reduction of CD on input goods for paper based Liquid Food Packaging Industry

7. Reduction of CD on Acetic Acid

8. Reduction of CD on Nonwoven fabrics

9. Exemption of CD on Machinery Parts / Accessories for Textile Sector

10. Exemption of CD on Elastomeric Yarn

11. Rationalization of CD on Aluminium Beverage Cans & Inputs thereof

12. Exemption of CD on raw material for hemodialyzers used by kidney patients

13. Tariff rationalization on Home Appliance Sector

14. Reduction of CD on Base Oil as input for Coning Oil, White Oil and other Textile Oils

15. Reduction of CD on Raw Material for Manufacturing of Pre-Sensitized Printing Plates

16. Exemption of CD on Preparations for Metal Surfaces as input for Solar Panels

17. Exemption of CD on Foundation Cloth

18. Reduction of Duty on Wooden Sheets for Veneering

19. Reduction of CD on Oxalic Acid

20. Reduction of CD on Raw Material of Powder Coating Industry

21. Reduction of CD on Raw Material for Paper Sizing Agents

22. Reduction of CD on Bobbins & Spools of Paperboard

23. Exemption of CD for Hydrocracker Industry for oil refining

24. Rationalization of tariff structure for SIM card manufacturing industry

REGULATORY DUTY:

1. Reduction of RD on Mobile Phones

2. Reduction of RD on smuggling prone items and other industrial inputs

3. Reduction of RD on Tyres

REVENUE MEASURES:

1. Increase in rate of Additional Customs Duty for non-essential items

2. Withdrawal of exemption on import of LNG

June 12, 2019
FBR issues SROs to withdraw additional, customs duty on import of cotton

ISLAMABAD: Federal Board of Revenue (FBR) has exempted customs duty and additional customs duty on import of cotton for the period of February 01 to June 30, 2019.
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February 4, 2019
Customs, regulatory duties on 135 tariff lines to be reduced / eliminated for raw materials

In a major move aimed at boosting both the export sector and domestic industrial production, the Pakistani government has unveiled plans to eliminate or reduce customs duty, additional customs duty, and regulatory duty on 135 tariff lines associated with crucial raw materials.
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January 26, 2019
Finance Supplementary Bill: FBR issues salient features of customs duty regime

The FBR released crucial details on Thursday regarding the transformative changes brought to the Customs duty regime through the Finance Supplementary (Second Amendment) Bill, 2019, which was presented on January 23, 2019. These modifications are poised to impact various sectors and streamline the country’s trade policies.
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January 24, 2019