PAKISTAN March 19 2015 1:22 PM

ISLAMABAD (Scrap Register): Pakistan has planned to impose 15% regulatory duty on import of Hot Rolled products as well as pipes and fixed sales tax at the rate of PKR 5,600 per ton on supply of billets and import of re-rollable scrap for providing level playing field to the local industry.

 

As per latest media reports, the Federal Board of Revenue has endorsed the proposal of Ministry of Industries and Production to impose 15% regulatory duty on import of Hot Rolled products and pipes and fixed sales tax of PKR 5,600 per metric ton on supply of billets and import of re rollable scrap to provide a level playing field to the local industry.

 

FBR has supported the tax measures including 15% regulatory duty on import of Hot Rolled (HR) products and pipes. The FBR has also proposed regulatory duty on the import of few other items. 

 

The FBR has examined new proposals regarding imposition of RD on some items and agreed to generate additional revenue in 2014 to 2015 through the duty.