LAHORE: The Federal Board of Revenue (FBR) has agreed to evaluate imported automotive parts on unit basis for the purpose of charging customs duty and other taxes on these, replacing the current method of clearing the items on the basis of their weight.

The Pakistan Association of Automotive Parts and Accessories Manufacturers (Paapam) has appreciated the move and said it would bring additional tax revenues of billions of rupees to the government besides saving thousands of jobs.

The decision was made after a Paapam delegation met officials at the Directorate of Customs Evaluation in Karachi earlier this month. Taking cognizance of the negative impact on the economy of the country, FBR had asked the Evaluation Directorate to make basic change of fixation of import values and subsequent clearance from weight to unit based system. A final proposal for adoption of the new system will be completed by the end of this month.

Published in Dawn, October 20th, 2019

Opinion

Editorial

Judiciary’s SOS
Updated 28 Mar, 2024

Judiciary’s SOS

The ball is now in CJP Isa’s court, and he will feel pressure to take action.
Data protection
28 Mar, 2024

Data protection

WHAT do we want? Data protection laws. When do we want them? Immediately. Without delay, if we are to prevent ...
Selling humans
28 Mar, 2024

Selling humans

HUMAN traders feed off economic distress; they peddle promises of a better life to the impoverished who, mired in...
New terror wave
Updated 27 Mar, 2024

New terror wave

The time has come for decisive government action against militancy.
Development costs
27 Mar, 2024

Development costs

A HEFTY escalation of 30pc in the cost of ongoing federal development schemes is one of the many decisions where the...
Aitchison controversy
Updated 27 Mar, 2024

Aitchison controversy

It is hoped that higher authorities realise that politics and nepotism have no place in schools.