FBR cuts additional customs duty on import of agriculture tractors. The FBR announces to reduce additional customs duty on import of agricultural tractors from 35% to 15%.
The Board vide SRO 2305(I) 2022 amended SRO 693(I)/2006. Through the new SRO, FBR will levy 15% additional custom duty on existing agricultural tractor manufacturers. Irrespective of HP, for new and old models and new entrants in tractor manufacturing for manufacturing agricultural tractors.
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The FBR has amended SRO 693(I)/2006 through an SRO 2305(I) 2022 here on Wednesday.
693 (I)/2006 vide S.R.O., the FBR levied additional customs duty on import of certain goods at the rate of 15% of the customs value on goods classified under the tariff headings of the First Schedule to the Customs Act, 1969. FBR cuts additional customs duty on import of agriculture tractors.
Rates specified in the notification on sub-components and components imported as part of any kit form for assembly or manufacture of motor cars and vehicles.