‘Foreign gifts not for sale’: Govt directs ministries to submit undertaking

ISLAMABAD: The government has directed all ministries to submit undertaking that duties and taxes free goods received as gifts or donations from foreign governments would not be sold in the market.

The Finance Act 2024 revealed that the goods received as gift or donation from a foreign government or organization by the Federal or Provincial Government or any public sector organization subject to recommendation of the Minister Incharge and concurrence by the Federal Board of Revenue.

This is subject to condition that the concerned Ministry shall verify the genuineness of such cases and furnish an undertaking to the effect that donated goods shall not be sold, utilized or disposed of otherwise than for the purpose for which the same have been imported, it added.

Tax relief on humanitarian donations, gifts: Revenue Division directed to process law amendments

Sales tax exemption would be available import of all goods received, in the event of a natural disaster or other catastrophe, as gifts and relief consignments or any goods received as gift or donation from a foreign government or organization by the Federal or provincial governments or any public sector organization.

Subject to the recommendations of the Minister Incharge and concurrence by the Federal Board of Revenue subject to condition that the concerned Ministry shall verify the genuineness of such cases and furnish an undertaking to the effect that donated goods shall not be sold, utilized or disposed of otherwise than for the purpose for which the same have been imported, Finance Act 2024 added.

Copyright Business Recorder, 2024