Govt Increases Taxes on Import of Mobile Phones

The government has increased regulatory duties on the import of mobile phones, tobacco, shampoos, cosmetics, tyres, tiles, dinner sets, padlocks, LCD and LED and dog or cat goods from July 1, 2021. The FBR Friday has issued “customs budget instructions “to the Model Customs Collectorates (MCCs) for compliance and enforcement at ports. ALSO READ FBR Removes WHT on Used Cars, Banking Transactions and More The FBR stated that the RD rates on import of mobile phones have been enhanced. The RD has been increased on the import of mobile set having According to the FBR, to support the local furniture industry, customs duty on import of Varnishes (PCT code 3208.2010), Organic composite solvents and thinners (PCT code 3814.0000) and plates, sheets, film etc. of PVC (PCT code 3921.1200) has been reduced from 20% to 16% and 5% Regulatory duty on import of mountings/fittings etc. suitable for furniture (PCT 8302.4200) has been removed. ALSO READ FBR Withdraws Sales Tax on SIM Cards In order to boost positive image of the country with our important trading partners across the world, it is proposed that regulatory duty on export of skin & hides and Molasses has been reduced to 10% from the current 15% and 20% respectively.