- The Federal Board of Revenue (FBR) in Pakistan has released the dutiable goods list for the tax year 2024.
- The guidelines outline customs duties and import regulations for the upcoming fiscal year.
- Customs duties will be levied on goods imported into Pakistan, goods brought from foreign countries, and goods brought in bond from one customs station to another.
- Customs duties on specific classes of goods will be based on rates prescribed in the Fifth Schedule.
- No export duty will be imposed on goods exported from Pakistan, but regulatory duties may be levied on imported or exported goods.
- Additional customs duties may be imposed on specified imported goods to regulate trade and protect domestic industries.
- The cumulative incidence of customs duties, including additional duties, should not exceed rates agreed upon by the Government of Pakistan under multilateral trade agreements.
- The release of these guidelines aims to provide clarity and transparency for businesses involved in international trade.
- Businesses are encouraged to stay informed about these regulations to ensure compliance and facilitate smooth cross-border transactions.
Source: pkrevenue.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
