The Federal Board of Revenue (FBR) has decided to slash custom and additional custom duty on imports from Turkiye till 2033.
As per details, the FBR decided to slash the duty on glucose, different flavoured powders, and cat and dog food.
The duties have been exempted on the 133 items including cornflakes, mosquito repellent sprays and electric oven. The additional custom duties on glucose and glucose syrup will be decreased from 5.83 percent to zero.
The custom duty on the flavouring powder, dog and cat food will be minimized to zero from 16.67 percent. The FBR will also slash the additional custom duty on the eye drops, mosquito repellent sprays, and electric oven from 5.83 percent to zero.
The decrease in the custom and additional custom duties will be effective from May 1, 2023, and it will continue to further decrease till 2033.
Earlier, the Economic Coordination Committee (ECC) approved proposed amendments in the relevant clauses of the import policy order (IPO-2022).
Ministry of Commerce submitted a summary of amendments in the Import Policy Order-2022 with regards to the import of live animals and animal products in line with the revised conditions/guidelines by the World Organization of Animal Health (WOAH) on animal (Cattle) trade.