The Chairman of the Federal Board of Revenue (FBR), Asim Ahmed, stated on Thursday that the regulatory duty tax on imported mobile phones and used cars with engine capacities of up to 1,800cc could be reintroduced at any time.
Previously, the regulatory duties on these items were abolished when two Statutory Regulatory Orders (SROs) that imposed taxes expired on March 31, after the Tariff Policy Board declined to extend their validity.
The beneficiaries of the SROs’ expiration are importers of used cars with engine capacities of up to 1,800cc, who are now exempt from 100% of regulatory duty taxes, while the regulatory duty tax on mobile phones has been reduced by 50%.
A ban on importing a range of goods was imposed by the government on May 19 due to declining dollar reserves. The FBR Chairman mentioned that since there is currently a ban on the import of cars and mobile phones, there is no need to issue a notification for the re-imposition of regulatory duty taxes.
He also said that the Ministry of Trade would make the decision about imposing taxes, and the FBR would issue the notification as soon as the ministry approves it.
