ISLAMABAD: The Federal Board of Revenue (FBR) has doubled regulatory duty, ie, from 10 percent to 20 percent on the import of educational items including pencils and crayons from July 1, 2021.

The FBR has issued SRO903(I)/2021 to amend the SRO840(I)2021 dated June 30, 2021 to revise the rates of the RDs on various items.

Through SRO840(I)2021, the FBR has imposed 10 percent RD on the import of pencils and crayons, with leads encased in a rigid sheath. Now the amendment made through SRO903(I)/ 2021 has raised the RD on the import of these items from 10 to 20 percent.

The FBR has abolished additional customs duty (ADC) on the import of cars, jeeps and light commercial vehicles in CKD condition up to 1000cc and import of vehicles in CBU condition up to 850cc from July 1, 2021.

The FBR has issued SRO904(I)/2021 to amend the SRO845(I)/2021 dated June 30, 2021.

The SRO845(I)/2021 deals with the imposition of the ADC on various items from July 1, 2021. Under the SRO904(I)/2021, the ADC would be charged at the rate of two percent on the import of cars, jeeps and light commercial vehicles in the CKD condition exceeding 1000cc.

The FBR has also revised regulatory duties on the import of certain items.

Earlier on June 30, 2021, the FBR had issued SRO 840(I)/2021 to supersede its Notification No SRO 680(I)/2019, dated the 28th June 2019 to impose RDs on the import of over 80 luxury and non-essential items including stationary items, imported chocolates, drinks, sanitary items, and coffee of foreign brands from July 1, 2021. Now, the FBR has amended the regulatory duties related SRO840(I)/2021 through a new notification SRO903(I)/2021. Under the SRO903(I)/2021, the FBR has abolished 60 percent regulatory duty on the import of wheat.

The FBR has also reduced regulatory duty on the import of betel leaves from Rs600 per kg to Rs400 per kg.

The regulatory duty on the import of olives has been reduced from 30 to 20 percent. Five percent RD would be applicable on the import of metallised yarn, whether or not gimped being textile yarn, or strip or the like of heading 54.04 or 54.05, combined with metal in the form thread, strip or powder or covered with metal.

The FBR has reduced RD from 50 percent to 40 percent on the import of footwear with outer soles of rubber, plastics, leather or composition leather and uppers of textile materials and other footwear.

The regulatory duty on the import of neutral glass tubing has been increased from 10 percent to 20 percent.

The RD would not be collected on the import of Pakistan Customs Tariff (PCT) codes 7227.9010 and 7227.9090, if imported by sales tax registered manufactures, subject to the laboratory test that the imported item was a high carbon wire rod, according to the SRO903(I)/2021.

Copyright Business Recorder, 2021