In a significant move under the Finance Bill 2025, the federal government has launched an extensive customs reform and tariff rationalization initiative aimed at simplifying the tax regime, reducing import costs, and aligning Pakistan’s trade practices with international standards. Central to these reforms is the introduction of new tariff slabs and the overhaul of existing duties, reflecting a policy shift toward greater efficiency and transparency in customs procedures.
(more…)Tag: Customs Tariff
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Japanese Premier Ishiba to Urge Trump to Reconsider Tariff Hike
Japanese Prime Minister Shigeru Ishiba is preparing for a crucial phone conversation with U.S. President Donald Trump early next week to address the escalating concerns surrounding Washington’s new tariff policy.
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Prevailing Customs tariff for fiscal year 2019/2020
KARACHI: Federal Board of Revenue (FBR) has issued updated Customs tariff for fiscal year 2019/2020, which have been imposed from July 01, 2019.
According to the FBR the following documents to ascertain the prevailing customs tariff:
Fifth Schedule to Customs Act w.e.f July 01 2019
First Schedule Customs Act w.e.f July 01 2019
Pakistan Customs follow the HS Code (Harmonized System Codes) or PCT Codes ( Pakistan Customs Tariff Codes) for Classification of Goods, these code consist of eight digits where first two represent Chapter and second two represent Sub- chapter and after decimal place four digit represent code of item.
Find PCT Code or HS code by Description of Goods
Find Description of Goods by PCT Code or HS code
International Classification of Goods in Harmonized System