Association hails decision to probe high car prices

Jan 2

Automotive

Association hails decision to probe high car prices

KARACHI: Pakistan Association of Automotive Parts & Accessories Manufacturers (PAAPAM) has welcomed the decision of the government for probing higher automobile prices in the country. The high prices are mainly due to lower content of localized parts and government’s strict tariff and taxation policy. In a meeting held on Saturday, the senior PAAPAM members endorsed […]

by Mrs. Anjum Shahnawaz

FBR withdraws regulatory duty on cotton import

Dec 23

Pakistan Customs

FBR withdraws regulatory duty on cotton import

The Federal Board of Revenue (FBR) has taken a significant step to boost the textile industry by withdrawing the five percent regulatory duty on the import of cotton yarn.

by Mrs. Anjum Shahnawaz

ECC withdraws regulatory duty on cotton yarn import

Dec 2

Finance

ECC withdraws regulatory duty on cotton yarn import

ISLAMABAD: The Economic Coordination Committee (ECC) on Wednesday approval removal of 5 percent regulatory duty on import of cotton yarn. The Ministry of Commerce presented a proposal before the ECC regarding removal of 5 percent regulatory duty on import of cotton yarn till June 30, 2021. After detailed discussion, the chair approved the removal of […]

by Mrs. Anjum Shahnawaz

Duty exempted on import of medical equipments for prevention, treatment of COVID

Nov 23

Pakistan Customs

Duty exempted on import of medical equipments for prevention, treatment of COVID

ISLAMABAD: Federal Board of Revenue (FBR) on Monday exempted customs duty, regulatory duty and additional customs duty on import of medical instruments and equipments for prevention and treatment of COVID pandemic. The FBR issued SRO 1251(I)/2020 dated November 23, 2020 to exempt whole of customs duty, regulatory duty and additional customs duty on import of […]

by Mrs. Anjum Shahnawaz

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 Mrs. Anjum Shahnawaz

FBR abolishes regulatory duty on wheat import

Jul 21

Pakistan Customs

FBR abolishes regulatory duty on wheat import

ISALAMABAD: Federal Board of Revenue (FBR) on Tuesday abolished regulatory duty on import of wheat in order to bring down domestic price of the commodity. The FBR issued SRO 633(I)/2020 in order to amend SRO 6809I)/2019 dated June 28, 2019. Through the SRO the FBR reduced the regulatory duty to zero from 60 percent. FBR […]

by Mrs. Anjum Shahnawaz

ECC decides to abolish regulatory duty on smuggling prone items

Jun 25

Pakistan Customs

ECC decides to abolish regulatory duty on smuggling prone items

ISLAMABAD: Economic Coordination Committee of the Cabinet (ECC) has decided to abolish regulatory duty on smuggling prone items. In a meeting held on Thursday chaired by Adviser to the Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh also decided in favour of removal/reduction of regulatory duty on the smuggling prone items, including fabric, […]

by Mrs. Anjum Shahnawaz

FBR allows Rs9.4 billion regulatory duty exemption on vehicle import

Jun 14

Pakistan Customs

FBR allows Rs9.4 billion regulatory duty exemption on vehicle import

ISLAMABAD: Federal Board of Revenue (FBR) has allowed exemption from regulatory duty to the tune of Rs9.4 billion on import of vehicles during outgoing fiscal year. According to official documents, the revenue body granted exemption from regulatory duty under SRO 640(I)/2018 and SRO 1265(I)/2018 on import of vehicles by new entrants. The FBR allowed regulatory […]

by Mrs. Anjum Shahnawaz

Regulatory duty must be rationalized to curb smuggling: Karachi Chamber

May 29

Budget 2020-2021, Trade & Industry

Regulatory duty must be rationalized to curb smuggling: Karachi Chamber

KARACHI: Karachi Chamber of Commerce and Industry (KCCI) has urged tax authorities to rationalize the regulatory duty on imported goods in order to curb smuggling. In its proposals for budget 2020/2021, the KCCI said that the regulatory duty was imposed in last fiscal year to rectify the balance of payment crisis. To some extent the […]

by Mrs. Anjum Shahnawaz

FBR urged to reduce regulatory duty on lighting fittings

May 12

Budget 2020-2021, Pakistan Customs

FBR urged to reduce regulatory duty on lighting fittings

KARACHI: Federal Board of Revenue (FBR) has been urged to reduce regulatory duty on lighting fittings in alignment with LED bulbs and LED tubes. The Overseas Investors Chamber of Commerce and Industry (OICCI) in its proposals for budget 2020/2021 submitted to the FBR, stated that current regulatory duty on lighting fittings with fixed / fitted […]

by Mrs. Anjum Shahnawaz