More duties could hurt GPS Plus talks with EU, board—File Photo
Islamabad: The federal government withdrew its proposal to impose up to 100 percent regulatory duty on imports of luxury goods and used vehicles after objections from EU members.
The Tariff Policy Board was proposed by the federal government to impose additional regulatory duty on 125 luxury goods this week. The Tariff Board, not agreeing to the government’s proposal, adjourned the matter.
It may be noted that six months ago, the government completely abolished the regulatory duty on the import of vehicles up to 1800 cc and also reduced the duty imposed on the import of new vehicles, mobile phones and many other items.
Also read: Increase in duty on registration of vehicles above 2000 cc
Sources told Express that it was proposed to levy regulatory duty only on those imported goods which would result in saving of foreign exchange and to double the duty on the goods on which the duty is low and on the goods on which the import duty is already high. They should be increased by 30 to 50 percent and this list includes 104 items on which more duty has been proposed, besides 20 more new items are also proposed to be added to the same list. Is.
The tax administration estimates that the implementation of the new duty will save the country $400 million in foreign exchange. The Tariff Board did not approve these proposals on the grounds that it believed it would undermine the negotiations between Pakistan and the European Union for GPS Plus.
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