FBR proposed to review regulatory duty regime to promote domestic industry

May 2

Budget 2020-2021

FBR proposed to review regulatory duty regime to promote domestic industry

KARACHI: Business community has urged the Federal Board of Revenue (FBR) to review existing regulatory duty regime in order to promote domestic industry. Pakistan Business Council (PBC) in its budget proposals 2020/2021 advised the FBR to review of the regulatory duty where domestic industry can expand and market its capacity to the export markets. The […]

by Mrs. Anjum Shahnawaz

FBR collects Rs71.21 billion as regulatory duty in last fiscal year

Apr 19

Pakistan Customs

FBR collects Rs71.21 billion as regulatory duty in last fiscal year

KARACHI: The customs authorities have collected Rs71.21 billion as regulatory duty during fiscal year 2018/2019, said Federal Board of Revenue (FBR) in a report released recently. The collection of regulatory duty increased by 12 percent to Rs71.21 billion in fiscal year 2018/2019 as compared with Rs63.58 billion in the preceding fiscal year. The share of […]

by Mrs. Anjum Shahnawaz

FBR withdraws 40% regulatory duty on sugar import

Feb 24

Taxation

FBR withdraws 40% regulatory duty on sugar import

ISLAMABAD: The government has withdrawn 40 percent regulatory duty on import of sugar and sugar products. The FBR issued SRO 127(I)/2020 dated February 24, 2020 to withdraw the regulatory duty of 40 percent on import of commodities falling under Customs Harmonized Code Chapter of 17.01. The government imposed 40 percent regulatory duty on import of […]

by Mrs. Anjum Shahnawaz

Regulatory duty on wheat import withdrawn; SRO issued

Feb 20

Pakistan Customs

Regulatory duty on wheat import withdrawn; SRO issued

ISLAMABAD: Federal Board of Revenue (FBR) on Thursday issued notification to withdraw regulatory duty on import of wheat and other wheat products. The Revenue Division issued SRO 119(I)/2020 dated February 19, 2020 to amend SRO 680(I)/2019 to withdraw regulatory duty on import of wheat. The government imposed 60 percent regulatory duty on import of wheat, […]

by Mrs. Anjum Shahnawaz

Cabinet approves gradual reduction in regulatory duty

Nov 20

Finance

Cabinet approves gradual reduction in regulatory duty

ISLAMABAD: The Federal Cabinet has approved gradual reduction in regulatory duty and additional customs duty under first-ever National Tariff Policy (NTP). The federal cabinet, in its meeting chaired by the Prime Minister held on Tuesday November 19, 2019, approved the first-ever National Tariff Policy (NTP). The policy guidelines contained in the NTP, as approved by […]

by Mrs. Anjum Shahnawaz

ECC approves 10 percent regulatory duty on cotton import

Jul 31

Finance

ECC approves 10 percent regulatory duty on cotton import

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Wednesday approved imposition of 10 percent regulatory duty on import of cotton. The decision has been taken on a summary moved by the Ministry of National Food Security and Research. The ECC which met with Dr Abdul Hafeez Shaikh, Advisor to the Prime Minister on […]

by Mrs. Anjum Shahnawaz

Elimination of regulatory duty, additional customs duty on essential raw materials recommended

May 18

2019-2020, Budget, Trade & Industry

Elimination of regulatory duty, additional customs duty on essential raw materials recommended

KARACHI: Federal Board of Revenue (FBR) has been suggested to eliminate additional customs duty and regulatory duty on essential raw materials. The Overseas Investors Chamber of Commerce and Industry (OICCI) in its tax proposals recommended tariff rationalization in the forthcoming for budget 2019/2020. It recommended elimination of additional custom duty and regulatory duty on essential […]

by Faisal Shahnawaz

FBR imposes regulatory duty up to Rs18,500 per mobile phone

Mar 11

Pakistan Customs, Taxation

FBR imposes regulatory duty up to Rs18,500 per mobile phone

ISLAMABAD: The Federal Board of Revenue (FBR) has imposed regulatory duty up to Rs18,500 per set on import of mobile phones. The FBR issued SRO 327(I)/2019 on Monday to amend the SRO 1265(I)/2018 dated October 16, 2018, and imposed regulatory duty on six different categories of mobile phones imported under HS Code 8519.1219. The new […]

by Faisal Shahnawaz

FBR notifies removal, reduction of RD on raw materials

Feb 12

Exclusive, Taxation

FBR notifies removal, reduction of RD on raw materials

ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday notified elimination and reduction of regulatory duties on import of various raw materials used by manufacturing sector.

by Hamza Shahnawaz

Customs, regulatory duties on 135 tariff lines to be reduced / eliminated for raw materials

Jan 26

Budget, Supplementary Budget 2019, Taxation

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.

by Mrs. Anjum Shahnawaz