ISLAMABAD: Member Customs Zahid Khokhar has said that the Federal Board of Revenue would be able to generate Rs20 billion after 1 per cent increase in additional customs duty on import items.
Talking to media, he said that the enforcement of these enhanced taxes, already included in Finance Bill 2019, would be applied after endorsement of the president of Pakistan.
“The approval of proposed increase in import duty from 1 per cent to 2 per cent on several thousands of items would help generate Rs20 billion revenue,” said Mr Khokhar.
Replying a question, the Member Customs said that 10 per cent duty has been proposed on hybrid cars’ CKD kits, while on other cars the duty would be enhanced to 30 per cent, adding that 1% increase would not be applied on several items, including pulses, medicines and fertilizers, which have already been exempted from import duty, income tax and sales tax.
