ISLAMABAD: The government has increased regulatory duties on the import of mobile phones, tobacco, shampoos, cosmetics, tyres, tiles, dinner sets, padlocks, LCD and LED, and dog or cat goods from July 1, 2021.
The FBR Friday issued “customs budget instructions “to the Model Customs Collectorates (MCCs) for compliance and enforcement at ports.
According to the FBR, to support the local furniture industry, customs duty on import of varnishes (PCT code 3208.2010), organic composite solvents and thinners (PCT code 3814.0000), and plates, sheets, film etc of PVC (PCT code 3921.1200) has been reduced from 20 percent to 16 percent and five percent regulatory duty on import of mountings/fittings etc suitable for furniture (PCT 8302.4200) has been removed.
In order to boost positive image of the country with our important trading partners across the world, it is proposed that regulatory duty on export of skin and hides and molasses has been reduced to 10 percent from the current 15 percent and 20 percent, respectively.
The FBR stated that the RD rates on import of mobile phones have been enhanced.
The RD has been increased on the import of mobile set having C&F Value in US$ (Up to 30$) from Rs165 per set to Rs300 per set; C&F Value in US$ ($31 to $100) from Rs1,620 per set to Rs3,000; C&F Value in US$ ($101 to200$) from Rs2,430 to Rs7,500; C&F Value in US$ (201$ to 350$) from Rs3,240 to Rs11,000; C&F Value in US$ (351$ to 500$) from Rs9,450 to Rs15,000 per set, and RD has been increased on the import of mobile set with C&F Value in US$ (above $500) from Rs16,650 per set to Rs22,000 per set.
Copyright Business Recorder, 2021