35% duty rate set for import of auto parts, accessories

ISLAMABAD: Rate of customs duty has been increased to two percent from one percent in the Federal Budget 2015-16, while duty structure has also been rationalized at flat 20 percent for all imports

Besides, auto parts and accessories would attract 35 percent duty according to the new budget for next fiscal year..

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The measures have been taken in line with the proposals and recommendations of Pakistan Customs. The rate of customs duty has been fixed at flat 20 percent at all classes of importable goods. However, duty would be collected at the rate of 5.0 percent on the import of coal, furnace oil, yarn and film grades.

Moreover, the rate of duty under PCT 4008 has been fixed at flat 35 percent, while duty at the rate of 35 percent would be collected on the import of all auto parts and accessories falling in any PCT.