Duty Exemption on farm machinery import Restricted

Duty exemption on farm machinery import restricted RECORDER REPORT ISLAMABAD: The Federal Board of Revenue (FBR) on Thursday restricted the exemption of duties and taxes on the import of agricultural machinery, making it available only if it was exclusively used in the farming sector to avoid misuse of the facility by other sectors. In this regard, the FBR on Thursday issued budgetary instructions (2013-2014) to Collectors of Customs for compliance. According to budgetary instructions, at present, the exemption from duty and sales tax under SRO 575(1)/2006 without any condition has…

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