ISLAMABAD: Federal Board of Revenue Customs Member Nasir Masroor said that the government would earn extra revenue of Rs 11 billion by bringing changes in tariff of different items.
Decreasing the slab of five percent to two percent for imported meat will not affect the local meat and chicken meat badly, he said, adding that the things, which were included in slab of 20 from 16 will benefit the local industry. Tariff has been decreased for 2300 items.
Responding to the questions of Senate Finance Committee, the member said that the board did not collect tax from butchers on the sale of meat, adding that Pakistan imported meat worth Rs 100 million in a year.
The decrease in rate will be applicable on the meat of cow, sheep and goat, while frozen and fresh will also be included in this slab. The 17 percent sales tax and six percent withholding tax will be remained for the import of meat.
The percentage of some items has been increased in order to balance the tariff, he said, adding that this will add Rs 18 billion revenue in national kitty. The board has decreased the tariff of 2300 items, while for 900 items it has been increased.
