ISLAMABAD: Federal Board of Revenue (FBR) has withdrawn the 25 percent regulatory duty imposed on the import of ferrous and nonferrous waste, lead unwrought, lead scarf, copper waste, lead sheet, wires, lead powder and lead plates under the Duty & Tax Remission scheme and Manufacturing Bond scheme, it is learnt here.
Official sources told Customs Today that FBR with consultation of Ministry of Commerce has withdrawn 25% regulatory duty with approval of federal cabinet, however, according to sources the board has the authority to withdraw this duty.
Sources also told that the board has also decreased the regulatory duty imposed on the import of peanuts from 40pc to 30% while on the other hand, the board has decreased the regulatory duty on the import of Cacao powder, which is mainly used in chocolate flavor, from 30% to 15pc, the revised duties will be implemented from March, 31 2019 sources added.
It is important to mention here that earlier in October 2018 the board had imposed a regulatory duty of 10pc on mushrooms, olives and other imported vegetables and imported seafood. A duty of five per cent has been put on imported paper and electric sound amplifier, while the five percent increase has been imposed on sports goods and shoes.
