TAX YEAR 2021: Rates of advance tax on imports

ISLAMABAD: Federal Board of Revenue (FBR) has updated rate of advance tax on imports for tax year 2021 (July 01, 2020 to June 30, 2021).

The FBR issued Income Tax Ordinance, 2001 (updated June 30, 2020) after incorporating amendments brought through Finance Act, 2020. The FBR updated following rate of advance tax on import of goods:

S.NoPersonsRate
(1)(2)(3)
1.Persons importing goods classified in Part I of the Twelfth Schedule1% of the import value as increased by customs-duty, sales tax and federal excise duty
2.Persons importing goods classified in Part II of the Twelfth Schedule2% of the import value as increased by customs-duty, sales tax and federal excise duty
3.Persons importing goods classified in Part III of the Twelfth Schedule5.5% of the import value as increased by customs-duty, sales tax and federal excise duty’;

Provided that the rate specified in column (3),—

(a) in the case of manufacturers covered under rescinded Notification No. S.R.O 1125(I)/2011 dated the 31st December, 2011 as it stood on the 28th June, 2019 on import of items covered under the aforementioned S.R.O shall be 1%;

(b) in case of persons importing finished pharmaceutical products that are not manufactured otherwise in Pakistan, as certified by the Drug Regulatory Authority of Pakistan shall be 4%:

Provided further that the rate of tax on value of import of mobile phone by any person shall be as set out in the following table, namely:-

S.No.C & F Value of mobile phone (in US Dollar) In CBU condition PCT Heading 8517.1219 Tax (in Rs.)  IN CKD/SKD condition under PCT Heading 8517.1211 Tax (in Rs.)
(1)(2)(3)(4)
1Up to 30 except smart phones700
2Exceeding 30 and up to 100 and smart phones up to 1001000
3Exceeding 100 and up to 2009300
4Exceeding 200 and up to 3509700
5Exceeding 350 and up to 5003,0005,000
6Exceeding 5005,20011,500

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