ISLAMABAD: The Federal Board of Revenue (FBR) issued an SRO 280(I)/2014, declaring tariff concessions on the import of 993 items from Sri Lanka under Free Trade Agreement (FTA). The newly issued SRO superseded another SRO 570(I)/2005 issued in June 6, 2005.
According to the SRO, the Federal government exempts import to Pakistan from Sri Lanka, if made in conformity with the “rules of Determination of Origin of Goods under the Free Trade Agreement between Pakistan and Sri Lanka (Pakistan-Sri Lanka FTA Rules of Origin)” and the operating “|Certification Procedure for the Rules of Origin”, notified by the Commerce Ministry. The goods falling under the respective Heading and sub-Heading numbers of the First Schedule of the Customs Act has been exempted from so much of the customs-duty, as in excess of the rates specified in the SRO.
The extent of tariff concession is 50 percent on the import of herbal cosmetics manufactured and marketed as Sri Lankan National brands, shampoos, eye make-up preparations, pre-shave, shaving or after-shave preparations, personal deodorants and antiperspirants, perfumed bath salts, other bath preparations as well as other items.
Similarly, the tariff concession is 20 percent on the import of tiles, cubes and similar articles, whether or not rectangular, the largest surface area of which is capable of being enclosed in a square the side of which is less than 7cm, bottle cooling machine and other items.
While 100 percent tariff concession is applicable on the import of green tea in packets/bags in immediate packing of a content not exceeding 3 kg (10,000 M/T in one financial year) and black tea and partly fermented tea, in immediate packing of a content not exceeding 3 kg.
The extent of tariff concession is zero percent on the import of palm sterain, RBD Palm Oil, palm olen, crude oil, castor oil and its fractions, cigarettes, varnishes, perfumes, sets of assorted articles, microwave ovens, electric ovens, line telephones with cordless handsets, video phones, modems, networking equipment, components for assembly/manufacturing of vehicles in any kit form and other items specified in the notification.
