FBR has imposed additional customs duty up to 7% in order to achieve assigned target for FY21. The FBR has issued SRO 572(I)/2020 for imposing additional customs duty at the rate of 2%, 4% and 7%, and the rates would be effective from 1st Jul’20. According to the notification, additional customs duty at 2% would be applicable on goods imported under tariff slabs of 0%, 3% and 11%. Meanwhile, 4% additional customs duty would be applicable on goods imported under tariff slab of 16%. Further, 7% additional customs duty would be applicable on goods imported under tariff slab of 20% and above slabs. Additional customs duty would not be applicable on the goods imported under concessionary regime for exporters.
1/7/2020