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Govt ensures tax relief on medicines, food, essential items: FBR

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June 13, 2019: Envisaging protection of common people, the government through Budget 2019-20 has provided tax relief on various daily-use essential products including medicines, food and beverages as well as their inputs, a senior official of Federal Board of Revenue (FBR) said on Thursday.

He further said that tax relief and exemption have been provided on various health sector commodities including lifesaving medicines and medical equipment.

“The government exempted Custom Duty (CD) on 18 medical products and their inputs, health and medical units, medicines of rare disease; mobile health units and free operation theaters,” the official added.

He said that exemption of duties on raw material for hemo-dialyzers used by kidney patients to facilitate kidney patients.

In addition, the official said that tax relief has also been provided for home appliance and different on edibles.

In order to tap true potential of tourism industry, the government had also given tax relaxation on various products used by the industry as it had decreased duty from 11% to 8 % on pre-fabricated structures used for building hotels.

He said the government has also incentivized the local industry for industrial growth and promotion of country’s exports and had given exemption of duties on more than 1650 raw materials and industrial inputs for supporting the local industries.

The government had reduced the duties on different sectors including printing paper industry, wood and furniture, LED panel manufacturing, Liquid food industry, Fabric, machinery part of textile industry, home appliance and Yawn industries sectors. However, duties on luxury items and non-essential had been enhanced as part of strategy to discourage imports of such products, he added.

 AFP/APP

Posted on: 2019-06-13T15:41:00+05:00

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