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ISLAMABAD: The Federal Board of Revenue (FBR) has revised customs tariff on the import of certain items from the Saarc member states, Free Trade Agreement between Pakistan and Sri Lanka, imports from Malaysia, Turkey and Iran Preferential Trade Agreement and Indonesia-Pakistan Preferential Trade Agreement from July 1, 2022.

In this connection, the FBR has issued SRO 1246(I)/2022 to amend SRO No 1274(I)2006, here on Wednesday. Under the notification, the FBR has exempted the import into Pakistan from the Saarc member states, the goods specified, falling under the heading and sub-heading numbers of the First Schedule to the Customs Act from so much of the customs-duty as is in excess of the rates specified.

This is subject to the condition that the imports are made in conformity with the “Rules of Determination of Origin of Goods under the Agreement on SAFTA” and the “Operational Certification Procedures For South Asian Free Trade Area (SAFTA), Rules of Origin” and further subject to the Import Policy Order notified by the Ministry of Commerce. Through SRO1248(I)/2022, the FBR has amended SRO 280(I)/2014, here on Wednesday.

The FBR has exempted on import into Pakistan from Sri Lanka, if made in conformity with the “Rules of Determination of Origin of Goods under the Free Trade Agreement between the Islamic Republic of Pakistan and the Democratic Socialist Republic of Sri Lanka (Pakistan-Sri Lanka FTA Rules of Origin)” and the operating “Certification Procedures for the Rules of Origin”, notified by the Ministry of Commerce.

The FBR has also issued SRO 1249(I)/2022 to amend SRO 1261(I)/2007 relating to the exempted imports from Malaysia.

The FBR has issued SRO1250 (I)/2022 to amend SRO 558(I)/2004 to exempt the goods specified from so much of customs-duty as is in excess of ninety per cent of the duties leviable. This is subject to the condition that they have been produced or manufactured in Iran or Turkey and imported into Pakistan in conformity with the ECO Rules of Origin notified by the Federal Government for implementing the ECO Protocol relating to preferential tariffs among members of the ECO.

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The exemption is available on the imports into Pakistan from the Saarc member states, if made in conformity with the SAARC Rules of Origin issued by the Ministry of Commerce.

The FBR has notified SRO 1251 (I)/2022 to introduce amendments in the SRO 894(I)/2006 to allow exemption of goods to the extent of percentage of concession on the import into Pakistan from Iran, if made in conformity with the Pakistan–Iran Preferential Trade Agreement Rules of Origin, 2004, as notified by the Ministry of Commerce under the Preferential Trade Agreement between the Pakistan and Iran.

The FBR has issued SRO1252 (I)/2022 to amend SRO 741(I)/2013 relating to the exemption on the import into Pakistan from Indonesia of the goods from so much of the customs-duty specified as is in excess of the rates specified.

Provided further that the goods shall be imported in conformity with the Indonesia-Pakistan Preferential Trade Agreement Rules of Origin, 2012 notified by the Ministry of Commerce vide notification SRO 1485(I)/2012 dated 22nd December 2012, read with the Import Policy Order as notified by the Ministry of Commerce from time to time.

Copyright Business Recorder, 2022

Comments

1000 characters
Ammar Rafique Aug 04, 2022 01:54pm
This article is useless unless you tell some percentages. Anyone going to fbr website can get those rates. Reading such an article means someone did their homework and extracted some numbers for quick idea. But that's not the case here.
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