The Federal Board of Revenue (FBR) has announced new import duties effective July 1, 2024, introducing a 2 per cent Additional Customs Duty (ACD) on 2,200 items and increasing Regulatory Duties (RD) on 657 luxury and non-essential goods.
The ACD, now applied to items previously exempt from duty, will range from 2 to 7 per cent as outlined in SRO 929(I)/2024. Regulatory Duties will vary from 5 to 55 per cent on a wide range of items.
For vehicles, a 7 per cent ACD will be imposed on 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, as per SRO.928(I)/2024, replacing S.R.O. 966 (I)/2022.
The new RDs impact various imported goods, including:
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.
Additionally, 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).
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