FBR seeks customs duty proposals by Feb 10

ISLAMABAD: The Federal Board of Revenue (FBR) on Friday invited customs duty proposals for the federal budget 2021-22 by February 10, 2021.
The FBR said that the proposals should cover three areas, i.e. changes in customs tariff rates, rules/procedures and Customs Act, 1969.
In a notification, the revenue body stated that it provided three different formats to enable the Customs Wing to process and evaluate each proposal properly. It is suggested that while formulating the proposals, provision of the existing customs, tariff rates/law may carefully be studied/consulted.
The FBR issued a separate annexure for local manufacturers claiming tariff protection on the finished product(s) or concession on its raw materials. The FBR advised all the chambers of commerce and industry, association, and individuals to submit the proposals by February 10, 2021. – TLTP

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