ISLAMABAD: The Federal Board of Revenue (FBR) on Tuesday abolished the two per cent additional customs duty on the import of 200 items and auto parts, ARY News reported.
According to a notification issues by the FBR, regularity duty on spare parts and raw material used in auto parts was also removed and the decision would be applicable from March 31.
FBR officials said that regularity duty on the import of raw material used in chocolate and gum was decreased by 5 to 15 per cent.
Regularity duty on the import of car mats, polyester mats and 12 other items was also slashed, said the FBR officials.
Earlier in the day, FBR officials briefed the Senate on tax reduction in the tobacco sector. The officials said that taxes worth Rs60 billion were removed from tobacco sector.
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The FBR officials told the senate that 10 million Kilogram tobacco was imported last year and added that annual consumption of tobacco was 15 million kilogram in the country.
They said that Pakistan tobacco company was not involved in tax evasion and added that 33 per cent duty was imposed the local manufacturers of tobacco related products.
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from Business – ARYNEWS http://bit.ly/2GzIkbz
