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January 15, 2002
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Tuesday
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Shawwal 30, 1422
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CED exemption
By Our Reporter
ISLAMABAD, Jan 14: The Central Board of Revenue has extended the central excised duty exemption offered to investors in the Special Industrial Zones (SIZs) till December 31, 2002.
An official source told Dawn the decision was taken to provide incentives to those investors, who had suffered due to discontinuity in the SIZ facilities after June 30, 1999.
The package was, however, available to investors till June 30, 1999 in SIZ, which after due date lapsed.
The CBR had already announced extension in customs duty and sales tax exemption on import of raw materials for manufacturing of goods, duty-free imports of machinery, which were not locally produced by such industries and commercial operation was commenced up to December 31, 2002.
The CBR made amendments in its notification no SRO 455(I)96 dated June 13, 1996 by another notification issued here on Monday.
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