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This is a abstract from Budget Speech:- of FM on
18-6-2001
Concessions to IT industry:
(14) I have already
underlined the importance of IT industry for country�s economy and its future.
To encourage investment in and development of the IT
industry, it is proposed to increase the present low rate of depreciation
of computer equipment from 10% to 30%. Reduction in
maximum tariff rate: (1) As I had announced
in the last budget, the maximum rate of customs duty is being reduced from 35%
to 30%. This is in line with the process of tariff rationalization and reducing
the anti-export bias of our imports; (2) To simplify the customs tariff regime, the present number of 5 duty labs is further reduced to 4. The new slabs will be 30%, 20%, 10% and 5%. This simplification will significantly improve valuation, clearance and general administration of customs tariff. In addition, it will promote a more equitable customs regime by removing exemptions. While doing so, we have ensure that existing commitments relating to zero rating of imports remain intact, together will certain important categories of goods such as computers, IT related equipment, fertilizer, books, pulses, seeds, oil and gas exploration equipment which are at present exempt will continue to be exempt from the levy of Customs duty ==========================================
kindly send me the H.S code number to verify
from custom tariff.
If it is correct then we have to struggle again
for exemption.
Sanaullah Bhutta
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- ISPAK: INCENTIVES TO PROMOTE IT IN PAKISTAN Saad Saleem
- sbhutta
