The Federal Board of Revenue (FBR) has abolished additional customs duty (ADC) on the import of cars, jeeps, and light commercial vehicles in CKD condition up to 1000cc and on the import of vehicles in CBU condition up to 850cc from July 1, 2021.
The FBR has issued SRO.904 (I)/2021 to amend the SRO.845(I)/2021 dated June 30, 2021.
Under the SRO.904 (I)/2021, the ADC would be charged at the rate of 2 percent on the import of cars, jeeps, and light commercial vehicles in CKD condition exceeding 1000cc.
The FBR has also revised regulatory duties on the import of certain items. The FBR has abolished 60 percent regulatory duty on the import of wheat.
The FBR has also reduced regulatory duty on the import of Betel leaves from Rs. 600 per kg to Rs. 400 per kg.
The regulatory duty on the import of pencils and crayons has been revised from 10 percent to 20 percent from July 1, 2021.
The regulatory duty on the import of olives has been reduced from 30 to 20 percent.
Five percent RD would be applicable on the import of metalized yarn, whether or not gimped being textile yarn, or strip or the like of heading 54.04 or 54.05, combined with metal in the form of thread, strip or powder or covered with metal.
The FBR has reduced RD from 50 percent to 40 percent on the import of footwear with outer soles of rubber, plastics, leather, or composition leather and uppers of textile materials and other footwear.
The regulatory duty on the import of neutral glass tubing has been increased from 10 percent to 20 percent.
The RD would not be collected on the import of Pakistan Customs Tariff (PCT) codes 7227.9010 and 7227.9090, if imported by sales tax registered manufacturers, subject to the laboratory test that the imported item was a high carbon wire rod, according to the SRO.903(I)/2021.
Source: Pro Pakistani