The federal government is likely to exempt duty and taxes on the import or lease of aircraft in coming budget 2019-20; it was learnt. According to sources, the aviation division in its National Aviation Policy 2019 proposed to the government to exempt duty and taxes on the import or lease of aircraft to revive the aviation sector.
Sources said that new aviation policy has been approved by federal cabinet and now the government is likely to exempt duty and taxes on the import or lease of aircraft in coming federal budget.
Furthermore, sources said that the government may also abolish custom duties on the import of technical manuals, ground support equipment, aircraft paint for all aircraft, maintenance kits and associated parts of aircraft, including aircraft engines, tyres, spare parts, supplies in coming budget.
In addition, tools, boarding cards, repair and exchange of parts, services from foreign vendors, testers and equipment for support shops, ground support equipment, special purpose vehicles like cherry lifters, scissor lifts etc may also be included in the tax exemption list.
Moreover, sources said that the government was also pondering to provide incentives to flying clubs and exempt custom duty on the aircraft and its parts to the general aviation aircraft in coming budget
Sources further answered that one window (24/7) custom clearance facility would also be established at all major airports, sea ports and dry ports to facilitate and expedite clearance of import consignment of aviation sector.
They said that excessive taxation on air transport, which usually had an adverse impact on aviation, may also be abolished in this budget to facilitate growth and stability in aviation sector.
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