Islamabad: According to the agreement reached between Pakistan and Turkey, the federal government allowed the import of goods and raw materials from Turkey for 10 years at concessional tax. The concessional tax on imports will be applicable from May 1.
According to the notification issued by the Federal Board of Revenue, goods can be imported from Turkey at concessional duty for the next 10 years under the agreement between Pakistan and Turkey.
The notification announced the rates of concessional customs duty and additional customs duty on annual basis till 1st May, 2033.
In the first year, from May 1, 2023, concessionary duty and additional customs duty will be applied, under which black tea, coca powder, various flavors used in the food industry, gum-based materials used in the manufacture of chewing gum and other items including zero customs duty and 2 Per cent additional customs duty may be imposed on imports.
The notification has fixed the rates of concessional duty and additional customs duty for the next 10 years.
The notification states that the rate of customs duty on imports of apples, pomegranates, shield-aired water, chocolate, face and skin creams, lotions, polyethylene, paper and paperboard, canola and other items from Turkey for the year before May 1, 2023 will be 10 percent. While the rate of additional customs duty will be 7%.
Apart from this, 16% customs duty on import of corn flakes and shampoo while additional customs duty will be zero, 16% customs duty on import of glucose and glucose syrup and eye drops, mosquito coils, boxes and various cases, 5.83% additional customs duty. will apply.
16.67% customs duty and 7% additional customs duty will be levied on import of dog and cat food. 5 and a half percent customs duty and 2 percent additional customs duty will be applicable on the import of khol.
Apart from this, import of other items has been allowed on payment of concessional customs duty and additional customs duty.
(function(d, s, id){
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) {return;}
js = d.createElement(s); js.id = id;
js.src = “//connect.facebook.net/en_US/sdk.js#xfbml=1&version=v2.3&appId=770767426360150”;
fjs.parentNode.insertBefore(js, fjs);
}(document, ‘script’, ‘facebook-jssdk’));
(function(d, s, id) {
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src = “//connect.facebook.net/en_GB/sdk.js#xfbml=1&version=v2.7”;
fjs.parentNode.insertBefore(js, fjs);
}(document, ‘script’, ‘facebook-jssdk’));