Here are the revised import duties imposed on goods by FBR

WEB DESK: The Federal Board of Revenue (FBR) has announced new import duties effective from July 1, 2024, which include a 2 per cent Additional Customs Duty (ACD) on 2,200 items and increased Regulatory Duties (RD) on 657 luxury and non-essential goods.

The ACD will now apply to items that previously had zero per cent duty, with rates set at 2 per cent, 4 per cent, 6 per cent, and 7 per cent, as specified in SRO 929(I)/2024. Additionally, the FBR has imposed RDs ranging from 5 per cent to 55 per cent on numerous items.

For vehicles, a 7 per cent ACD will be applied to cars, jeeps, and light commercial vehicles in Completely Knocked Down (CKD) condition exceeding 1,000 cc, as well as heavy commercial vehicles in CKD condition. This measure is outlined in SRO.928(I)/2024, which supersedes the previous notification S.R.O. 966 (I)/2022.

The new RDs will impact various imported goods as follows:

– Perfumes and sprays: 20 per cent

– Watches and sunglasses: 30 per cent

– Imported cycles: 10 per cent

– Dairy products: 20-25 per cent

– Natural honey: 30 per cent

– Imported fruits, including dates: 25 per cent

– Cosmetics: 55 per cent

– Shaving cream and soap: 50 per cent

– Men’s apparel, including caps, overcoats, jackets, trousers, and shirts: 10 per cent

– Women’s apparel, including overcoats, jackets, skirts, and trousers: 10 per cent

– Jewellery: 45 per cent

– Oral hygiene products, including dental floss: 50 per cent

– Cheese and curd: 25 per cent

– Vegetables and mixtures of vegetables: 50-55 per cent

– Sugar confectionery, including white chocolate: 40 per cent

– Tobacco products: 50 per cent

– Pet food: 50 per cent

– Leather clothing accessories: 50 per cent

– Video game consoles and table games: 50 per cent

Certain imports are exempt from these duties, including those under S.R.O. 678, Chapter 99 of the Customs Act, the Temporary Importation Scheme (S.R.O. 492(I)/2009), the Fifth Schedule to the Customs Act, and others specified in the notice.

The RD for CKD/SKD kits for home appliances not specified separately is set at 5 per cent. SRO.929(I)/2024 also details a 2 per cent ACD on sub-components, components, and sub-assemblies for automotive vehicles and climate control equipment, including those used in agricultural tractors and road tractors (Prime Movers).

In summary, the FBR’s new regulations impose a significant increase in duties on a wide range of imports, targeting both luxury and non-essential items, while providing specific exemptions and detailed application rates.