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No closing down of PaCCS, says FBR |
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Written by Administrator
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Federal Board of Revenue (FBR) has vowed to achieve 100 per cent automation of its different organs, including customs, income tax and sales tax etc.
In a statement, the FBR spokesman has maintained that automation of FBR and its key organs like customs, income tax and sales tax, is in good progress and FBR is fully committed to achieving 100 per cent automation of work processes in key wings and departments.
However in some recent media reports it has been wrongly reported that Pakistan Customs Computerised System (PaCCS) is being closed down. These reports have mixed up PaCCS with the M/s. Agility which is a company providing software to run the system for PaCCS. It has been decided following the input received from the system audit of the software and some other related issues that the automation of Customs may not be rolled out through M/s. Agility and FBR will come up with a substitute for PaCCS for providing automated services and rolling it out to all the customs stations in the country.
Source: FBR Press Release
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25pc duty levied on export of waste of copper, aluminum |
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Written by Administrator
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The federal government has imposed regulatory duty at the rate of 25 per cent on export of waste and scrap of copper and aluminum, says an SRO issued by Federal Board of Revenue (FBR).
According to the SRO-(1)2010, a regulatory duty at the rate of 25 per cent has been imposed ad valorem on export of waste and scrap of copper and aluminum as well as on bars, rods, ingots, slabs, and billets made thereof from 13th March, 2010 to 30th June, 2010 on the basis of ECC’s decision. The position shall be reviewed at the time of budget formulation for financial year 2010-11.
Hamid Raza Wattoo
Secretary PR
Source: FBR Press Release
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Govt allows import of cars to disabled persons |
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Written by Administrator
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The government has allowed import of custom-duty free new car of engine capacity not exceeding 1350cc by a Pakistani disabled national for personal use, says a press release issued by FBR.
The decision announced vide Customs Notification No. SRO 277(1)2010 dated 27th April, 2010, of the Revenue Division, has been taken in pursuance of a government decision announced vide Notification No 16(1)/2006 – Import II, dated the 28th September, 2009, issued by the Ministry of Commerce, to allow import of duty free cars for personal use of disabled persons, to overcome the disability, subject to fulfillment of criteria and conditions laid down in the policy.
According to the conditions, at the time of import of car the disabled person must have import authorization certificate issued by the Ministry of Commerce in his favour. Moreover, only one car shall be allowed to be imported by a disabled person, and the car shall not be sold or otherwise transferred to any person before the expiry of five years from the date of its arrival in Pakistan.
Hamid Raza Wattoo
Secretary PR
Source: FBR Press Release.
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OVERVIEW OF FEDERAL EXCISE DUTY |
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Written by Administrator
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The Federal Excise Act, 2005, was promulgated with effect from 1st
July, 2005, repealing the Central Excises Act, 1944. Following are some
of the significant changes brought about by the new Act:
The word “Federal” was used in place of “Central”. Therefore, now the
term “Federal Excise Duty” is more appropriate as compared to old
“Central Excise Duty” for the duties of excise levied under the 2005
Act. The system of physical supervision has been entirely done away with
and now all clearances will be self-assessed and no prior permission
for clearance will be required. |
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Explanatory Notes for SRO 406(I)/2008 |
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Written by Administrator
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The import and supply of CKD kits of single cylinder agriculture diesel engines of 3 to 36 HP are exempt from sales tax. In order to exempt the supply of finished product i.e. single cylinder agricultural diesel engines (3 to 36 HP) this notification has been issued so that the same is available to farmers on competitive prices. This step would facilitate the farmers who use agricultural diesel engines for farming activities. |
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Exemption of whole of customs duty and sales tax on import of plant, |
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Written by Administrator
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The Economic Coordination Committee (ECC) of the Cabinet on a Summary, tabled by the Ministry of Water and power regarding use of bio-diesel as an alternative fuel, has allowed exemption of whole of customs duty and sales tax on import of plant, machinery, equipment and specific items used in production of bio-diesel. The aforesaid decision of the ECC has been implemented and Federal Board of Revenue has issued SRO 474(1)/2008 dated the 21st May, 2008, allowing exemption to aforementioned goods used in production of bio-diesel. |
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Customs duty on import of wheat exempted |
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Written by Administrator
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The Federal Government has exempted 10% customs duty on import of Wheat by issuing SRO 478 dated 24-05-2008 amending SRO 567(I)/2006 dated 05-06-2006. This measure has been taken to ensure availability of wheat and flour in the country to masses in abundance and at reasonable price. |
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Change in duty draw back rates of Laminated Sheets |
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Written by Administrator
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The Federal Board of Revenue has issued amendment in Schedule LVIII of SRO 931 (I)/2007 dated 11th September 2007 under which the description of Industrial / Technical Laminated Sheets and Decorative Laminated Sheets has been further specified according to thickness and size respectively for clarity, while duty drawback on decorative laminated sheets has been calculated on FOB value instead of that on specific rates notified previously, in order to bring it in conformity with international standards. |
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