The government has imposed a 2 percent additional customs duty on 2200 items to collect billions in revenue during the new fiscal year 2024-25 which commenced on Monday.
According to FBR’s SRO, the federal government has levied additional customs duty on the import of goods specified in the First Schedule to the said Act.
A 2 percent additional customs duty has been imposed on the import of sub-components, components, and sub-assemblies of automotive vehicles, automotive climate control equipment, and automotive batteries for in-house use or supply to OEMs and assemblers or sale in the open market.
This equipment was used in the manufacturing of agricultural tractors; road tractors for Semi-trailers (Prime Movers) of 280 HP and above; road tractors for semi-trailers(Prime Movers) of less than 280 HP; and fully CNG-dedicated vehicles.
In addition, a 2 percent additional customs duty has been imposed on the import of components for assembly/manufacture in any kit form including Tyres/Tubes for manufacturing of agriculture tractors.
Meanwhile, a 2 percent additional customs duty would be applicable on the import of components for the assembly/manufacturing of road tractors for semi-trailers and trailers (prime movers) of 280 HP.
Furthermore, a 2 percent additional customs duty would be applicable on the import of components which include sub-components, components, sub[1]assemblies, and assemblies but exclude consumables), imported in any kit form and direct materials for assembly or manufacture of vehicles falling under Chapter 87 of the First Schedule to the Customs Act.
According to SRO, a 7 percent additional customs duty would be applicable on the import of cars, jeeps, light commercial vehicles in CKD condition exceeding 1,000 cc, and heavy commercial vehicles in CKD condition.
Follow ProPakistani on Google News & scroll through your favourite content faster!
Support independent journalism
If you want to join us in our mission to share independent, global journalism to the world, we’d love to have you on our side. If you can, please support us on a monthly basis. It takes less than a minute to set up, and you can rest assured that you’re making a big impact every single month in support of open, independent journalism. Thank you.
Taxes taxes . But no production or economic development
Shukria Shahbaz Sharif. You are digging grave of common man as well as politics of PMLN