Duty on select imports hiked to protect local industry
Thursday, 1 August 2013 02:20
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The Finance Ministry said yesterday that the import duty on vehicle tyres, excluding for buses, vehicle parts and dairy products, including butter, was also revised with effect from 31 July 2013.
“This move is expected to help the development of domestic industries, particularly related to light engineering, dairy products and tyre manufacturing,” the Ministry said.
In addition, the total tax applicable for the importation of single cabs was also revised to correct an anomaly on taxing such vehicles.
The new rates have been published in Extraordinary Gazette Notifications No. 1821/1, 1821/3, 1821/4 and 1821/18, dated 29 July 2013.
