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Home Breaking News

FBR allows duty & tax-free temporary import of artificial leather

byCT Report
May 14, 2022
in Breaking News, Islamabad, Latest News, Slider News
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ISLAMABAD: The Federal Board of Revenue (FBR) has allowed the duty and tax-free temporary import of artificial leather used in the production of a wide range of finished products to be exported under SRO.492(I)2009.

The FBR has issued a new clarification because it has restricted the import of artificial leather (without payment of duties and taxes) for consumption in finished products to be exported. The facility has been restored through a new clarification.

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Under the SRO.492(I)2009, the FBR had exempted the whole of the customs–duty and sales tax on temporary importation of goods for subsequent exportation as specified in the SRO.492(I)2009.

As per SRO, the imported materials are used in the manufacturing of leather goods and leather garments and sports goods; garments and textile made-ups including foundation garments; furniture, woodware and fittings, and other items.

According to the letter issued to the Chief Collectors of Customs on Thursday, the FBR has clarified that the term “leather” refers to the animal leather falling under the PCT heading 41.07 whereas PU is an artificial leather falling under the HS code 3921.1300, hence not affected by exclusion under serial number 1 of Table of SRO.492(I)2009. Therefore, the temporary import of PU leather (artificial leather) is allowed under the SRO.492(I)2009.

The FBR has withdrawn its earlier clarification dated April 27, 2021 ab initio, FBR’s legal clarification added.

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