ISLAMABAD: Duty free imports have jumped by 62.5 per cent on an annual basis, much higher growth comparing dutiable imports, Federal Board of Revenue (FBR) said in a report released recently.
ISLAMABAD: Federal Board of Revenue (FBR) on Friday issued rules for duty free minimum value of goods imported through courier and postal service. The FBR issued SRO 886(I)/2020 to notify draft amendment to Customs Rules, 2001. Through the draft amendment the FBR issued ‘Deminimis rules for imported goods’, which shall apply to the goods imported […]
KARACHI: Despite elimination of exemption and strengthening enforcement the duty free import surged by 17.1 percent during 2018/2019, according to official documents. The FBR in its report released this month said that the duty free imports increased by 17.1 percent to Rs2,445 billion during fiscal year 2018/2019 as compared with Rs2,087 billion in the preceding […]
ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Monday approved duty-free import of cotton. The ECC took the decision at a meeting held here under the chairmanship of Advisor to Prime Minister on Finance and Revenue, Hafeez Shiekh in the chair. The meeting also allowed cotton import through the Torkham border. The ECC […]
ISLAMABAD: In order to recognize the services of overseas Pakistanis, the government is considering to allow bringing duty-free hybrid vehicles into the country. A statement said that the Ministry of Overseas Pakistan has proposed a major reward for Overseas Pakistanis in recognition of their services for the country and for their enduring convenience abroad. The […]
KARACHI: Federal Board of Revenue (FBR) has allowed duty free import of plant and machinery by industrial and manufacturing units. The exemption has been allowed through Finance Supplementary (Second Amendment) Act, 2019 under Chapter 84 and 85 of Customs Act, 1969. The FBR said that plant and machinery shall be allowed zero percent customs duty […]