January 28, 2007	Sunday	Muharram 08, 1428

ISLAMABAD, Jan 27: The Central Board of Revenue (CBR) has announced that the proposed changes in the Pakistan Customs Tariff (PCT) will come into effect from July 1, 2007.

The draft along with amendments notified by the World Customs Organisation (WCO) has been posted at CBR’s website (www.cbr.gov.pk) for soliciting comments, suggestion from the stakeholders before March 15, 2007.

Under the HS Convention, it was the obligation of member countries of the WCO to bring their tariffs in line with WCO HS Coding System. The WCO updates/amends the Harmonised Commodity Description and Coding System (HS) after every five years to accommodate new technological developments, changes in trade pattern etc. HS 2007 version has been launched by the WCO with effect from January 2007.

Secretary Customs Wing Mohammad Saleem in a statement on Saturday said in order to meet this obligation the CBR had transposed the existing PCT to HS 2007 version. “This involves substantial changes in the existing PCT which will be introduced through the Finance Act”.

He said hard copies of the draft had been dispatched to all the chambers/trade bodies, customs and sales tax collectorates, concerned ministries and divisions with a suggestion to give inputs thereon.

The amendments have affected more than 1,100 existing tariff lines in PCT amongst a total of 6,800 tariff lines. The changes are related to agriculture, chemicals, paper, textiles, base metals and machinery etc.

Around 600 tariff lines at six to eight digit levels have been deleted. Around 300 tariff lines have either been added or substituted. Some 240 tariff lines have changed their positions while undergoing the transposition from HS 2002 to HS 2007 version.