FBR grants duty, tax concessions on cotton import

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ISLAMABAD: Federal Board of Revenue (FBR) has issued notifications to exempt customs duty and zero-rating of sales tax on import of cotton.
In two different notifications i.e. SRO 46(I)/2018 and SRO 48(I)/2018, the FBR allowed zero-rating of sales tax and exemption of customs duty on import of cotton.
The FBR amended SRO 1125(I)/2011 to allow zero rated sales tax on import of cotton.
The FBR issued the notifications in pursuance of Economic Coordination Committee (ECC) of the Cabinet decisions taken on January 05 to withdraw sales tax and customs duty on import of raw cotton.
The FBR said that the concessions on duty and taxes have been allowed from January 08, 2018.

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