FBR cuts RD on import of over 4 dozens items

ISLAMABAD: The Federal Board of Revenue (FBR) has brought down Regulatory Duty (RD) on import of almost four dozen items including inputs used for manufacturing of auto parts and notification to this effect has been issued here on Tuesday. There are some items on which the RD has been abolished including RD on the import of cocoa powder, chocolate preparations, PVC resin; pigment thickener, Acrylic thickener and few other items. According to amended notification 1255(I)/2018 through an S.R.O.190 (1)/2019 issued here on Tuesday, the RD would not be applicable on the import of sub-components, components and sub-assemblies of automotive vehicles, automotive climate control equipment and automotive batteries meant for in-house use or supply to Original Equipment Manufacturers (OEMs) and assemblers or sale in the open market.

The FBR will not charge 25 percent RD on the export of waste and scrap of copper, unwrought lead, ferrous and non-ferrous waste of scrap of lead, lead plates/sheets/strip/foil/lead powers and flakes and lead bars, rods profiles and wire produced from material imported under the facility of DTRE, as provided under subchapter 7 of Chapter XII of the Customs Rules, 2001, or the manufacturing bonds scheme as licensed under Chapter XV of the said Rules.

The regulatory duty shall not be levied on imports of input materials used for manufacturing of auto parts by local vendors under Notification S.R.O.655(1)/2006, dated the 5th June, 2006. The RD would not be applicable on the import of sub-components, components and sub-assemblies of automotive vehicles, automotive climate control equipment and automotive batteries meant for in-house use or supply to OEMs and assemblers or sale in the open market.

The FBR has slashed down RD on import of ground nuts (not roasted) from 40 to 30 percent; chocolate and other food preparations containing cocoa (except PCT codes PCT code 1806.2020) from 30 to 15 percent; malt extracts, food preparations of flour, meal, starch or malt extract from 20 percent to 15 percent; master batches from 15 percent to 10 percent; preparations put up for retail sale from 25 percent to 15 percent; RD of 5 percent would be applicable on products suitable for use as glues or adhesives, put up for retail sale as glues or adhesives, not exceeding a net weight of 1kg; floor coverings of plastics 30 to 20 percent; other woven fabrics of cotton of polyester 5 percent to 2.5 percent; parts of footwear 15 percent to 10 percent; other glass from 15 percent to 5 percent; padlocks, locks of a kind used in furniture, other locks and other locks suitable for furniture from 10 percent to 5 percent; enamelled and coated for antirust purposes (if imported by registered units of air conditioner manufacturers) from 10 percent to 5 percent; covers for inner body (except imported by registered units of air conditioner manufacturers) from 10 percent to 5 percent; furniture parts from 35percent to 15percent and RD has been reduced on the import of vacuum flacks from 40 percent to 30percent.