FBR adds 356 items to Regulatory Duty List increasing the total to 731; to decrease the import bill

Federal Bureau of Revenue released a revised levy of regulatory duty titled “S.R.O.1035(I)/2017” today for a revised schedule of government charges on imports.

FBR has added some 356 new items in the list whereby regulatory duty would be imposed on the said items between 2 percent to 60 percent effective October 16, 2017.

After the imposition of the Regulatory Duties on the variety of products import bill is likely to fall by around 500 million dollars to 600 million dollars. The decision was taken to include these items into the list because of the widening trade deficit.

FBR has notified the list of the products which contains home appliances like Fruit Juicer, Toasters, Microwave Oven, Diapers, Make-up Items for ladies and all imported Fruits and Vegetables.

According to an analyst though the decision has been taken but by the end of the fiscal year, correct volume and value would be determined whether the import has been curtailed or it will increase the inflows from grey channel.

FBR has also asked the Customs Officials to strengthen their field officers to check the smuggling and under invoicing as the duty increase might prompt smuggling

List of Items and the Brackets affecting the Auto Sector imports:

Description

Rate of Regulatory Duty %

New Sport Utility Vehicle

80

New Sport Utility Vehicle (SUVs 4×4)

80

New All-Terrain Vehicles

80

Wheat

60

Other Wheat

60

Old & Sport Utility Vehicles 1801 cc to 3000cc

60

Old and Used Cars and Jeeps 1801cc to 3000cc

60

Old and Used Cars and Jeeps above 3000cc

60

Old and Used sport utility vehicles above 2000cc

60

Old and used all-terrain Vehicles above 2000cc

60

Old and used cars and jeeps above 2000 cc

60

Old and used cars and jeeps above 2500 cc

60

List of Items and the Brackets affecting the Electronic Goods imports:

Description

Rate of Regulatory Duty %

Standard wire, ropes, cables, plaited bands, slings and the like, of iron or steel, not electrically insulated

25

Electric smoothing

20

Electric ranges

20

Electric oven

20

Electric roasters/grillers

20

Other (Electric heating resistors)

20

Electric table, desk, bedside or floor standing lamps

50

Wire, rods, tubes, plates, electrodes and similar products, of base metal or of metal carbides, coated or cored with flux material, of a kind used for soldering, brazing, welding or deposition of metal or of metal carbides wire and rods, of agglomerated base metal powder, used for metal spraying (except 8311.1000).

30

List of Items and the Brackets affecting the Textile Trade (Imports):

Description

Rate of Regulatory Duty %

Cotton yarn (other than sewing thread), containing 85 % or more by weight of cotton, not put up for retail sale.

10

Cotton yarn (other than sewing thread), containing less than 85 % by weight of cotton, not put up for retail sale.

10

Cotton yarn (other than sewing thread) put up for retail sale.

10

Woven fabrics of cotton, containing 85 % or more by weight of cotton, weighing not more than 200 g/m2.

10

Woven fabrics of cotton, containing 85 % or more by weight of cotton, weighing more than 200 g/m2.

10

Woven fabrics of cotton, containing less than 85 % by weight of cotton, mixed mainly or solely with manmade Fibres, weighing not more than 200 g/m2 .

10

Woven fabrics of cotton, containing less than 85 % by weight of cotton, mixed mainly or solely with manmade fibers, weighing more than 200 g/m2

10

Other woven fabrics of cotton.

10

 

Posted on: 2017-10-17T14:04:00+05:00