KARACHI: Federal Board of Revenue (FBR) has issued updated customs duties at 3 percent and 5 percent on import of machinery and equipment for various sectors.
The customs duties have been updated under Fifth Schedule of Customs Act, 1969 on import of following machinery on respective headings:
Machinery and equipment for development of grain handling and storage facilities including silos.
Cool chain machinery, equipment including Capital goods. If imported by Cool Chain Industry.
Machinery and equipment for initial installation, balancing, modernization, replacement or expansion of desalination plants, coal firing system, gas processing plants and oil and gas field prospecting.
The above machinery have been allowed at the specified duties on conditions:
For “Respective Headings” entries in column (3) of the Table against which more than one rate of customs duty has been mentioned in column (4), the rate of 3% or 11% shall be applicable only for such goods which are chargeable to 3% or 11% duty under the First Schedule to Customs Act, 1969.
Explanation.-Capital Goods mean any plant, machinery, equipment, spares and accessories, classified in Chapters 84, 85 or any other chapter of the Pakistan Customs Tariff, required for
(a) the manufacture or production of any goods, and includes refractory bricks and materials required for setting up a furnace, catalysts, machine tools, packaging machinery and equipment, refrigeration equipment, power generating sets and equipment, instruments for testing, research and development, quality control, pollution control and the like; and
(b) use in mining, agriculture, fisheries, animal husbandry, floriculture, horticulture, livestock, cool chain, dairy and poultry industry.
