ISLAMABAD – Federal Board of Revenue (FBR) Chairman Asim Ahmed said on Thursday that regulatory duty tax on import of mobile phones and used cars of up to 1,800cc could be resumed at any time.
The regulatory duties on the cars and other items were abolished as the two Statutory Regulatory Orders (SROs), which were enforced to impose taxes, expired on March 31 after the Tariff Policy Board declined to extend the validity last month.
Following the expiry of SROs, the importers of used cars of up to the 1800cc category are the major beneficial as they will get 100% exemption while regulatory duty on mobile phones will cut to half.
On May 19, the government had imposed a ban on import of range of goods due to depleting reserves of dollars.
The FBR chief said there was no need to issue a notification for re-imposition of the regulatory duty as currently there was a ban import of cars and mobile phones.
He said the decision about imposing taxes was taken by the Ministry of Trade, adding that the FBR would issue the notification as soon the ministry approved it.
