ISLAMABAD (June 29 2007): The Central Board of Revenue has enhanced customs duty on the import of nearly 204 items. According to the CBR, a 14 percent to 15 percent duty has been raised on the import of 143 items while there is an upward revision in duty from 7 percent to 9 percent on the import of 61 items.

The board has abolished customs duty on the import of printing machinery and spare parts used by the newspaper industry, and reduced duty from 10 to 5 percent on the import of compressors used for HCFC gases. There is a concessionary rate of 5 percent customs duty on the import of 25 years Old vintage motorcycles.

The board has amended SRO 567(I)/2006 through a notification issued on Thursday to revise duty structure on different items. The new rates of customs duty would be applicable from June 10, 2007.

The CBR has abolished customs duty on the import of inputs used by newspaper establishments. Zero percent duty would be applicable on the import of printing machinery and spare parts thereof (PCT headings 8442.3000, 8443.1200, 8443.3990, 8443.1990, 8443.9100 and 8449.3900). The newspaper establishments have to fulfil certain conditions to avail exemption. Each CEO of the importing establishments will be required to certify that imported items are establishment's bona fide requirement. Secondly, these items shall not be sold or disposed of within the next ten years.

The minimum rate of 5 percent duty would be applicable on the import of Vintage motorcycles of 500 CC and above which are older than 25 years. This facility would be available on the recommendations and certification of Ministry of Sports.

The Polyethylene Terephthalate (PET), bottle grade (PCT heading 3907.6020) would be liable to 7.50 percent duty and Mica Ester would be liable to concessionary rate of 5 percent duty. The board has also abolished customs duty on the import of Urine Analysis Strips and kits for automatic cell separator for collection of platelets.

Duty has been enhanced from 14 to 15 percent on the import of items specified in the SRO.643(I)/2007 as per amendment in Table-II of the notification. Items are fabrics of noil silk; other fabrics, containing 85 percent or more by weight of silk or of silk waste other than noil silk; Other woven fabrics of silk; woven fabrics of carded wool or of carded fine animal hair, of a weight not exceeding 300 g/m; other woven fabrics containing 85 percent or more by weight of wool or of animal hair; other, mixed mainly or solely with man-made filaments; other, mixed mainly or solely with man-made staple fibre; other woven fabrics of carded wool or of carded fine animal hair; woven fabrics of a weight not exceeding 200 g/m2; other woven fabrics containing 85 percent or more by weight of wool or of fine animal hair; other, mixed mainly or solely with man-made filaments; other, mixed mainly or solely with man-made staple fibers; woven fabrics of coarse animal hair or of horse hair; plain weave; 3-thread or 4-thread twill, including cross twill; other fabrics; plain weave; 3-thread or 4-thread twill, including cross twill; other fabrics; plain weave; woven fabrics of cotton, containing less than 85 percent by weight of cotton, mixed mainly or solely with man-made fibres, weighing more than 200 g/m; denim; woven fabrics of other vegetable textile fibres; woven fabrics of paper yarn; yarn of polyesters, other; other woven fabrics, containing 85% or more by weight of filaments of nylon or other polyamides of yarns of different colours; other woven fabrics, containing 85 percent or more by weight of textured polyester filaments of unbleached or bleached; other woven fabrics, containing 85 percent or more by weight of polyester filaments containing 85 percent or more by weight of non-textured polyester filaments; other woven fabrics, containing less than 85 percent by weight of synthetic filaments, mixed mainly or solely with cotton of unbleached or bleached, dyed, yarns of different colours; other woven fabrics of synthetic filament yarn, including woven fabrics obtained from materials of heading 54.04; synthetic filament tow; filament tow of other polymers; artificial filament tow; other woven fabrics; other woven fabrics of polyester staple fibers; other woven fabrics of synthetic staple fibers; other woven fabrics mixed mainly or solely with man-made filaments; woven fabrics of artificial staple fibers containing 85 percent or more by weight of artificial staple fibers and duty has been raised from 14 to 15 percent on the import of other items specified in the notification.

Duty has also been raised from 7 percent to 9 percent on the import of 61 items of fabrics/yarn. It included sewing thread of synthetic filaments, whether or not put up for retail sale; high tenacity yarn of nylon or other polyamides and other items specified in the notification.

Copyright Business Recorder, 2007