Government to lift custom duties on Turkish imports till 2033
Business
The reduction in duties will be applicable from May1, 2023
ISLAMABAD (Dunya News) - The government has decided to abolish custom duties and additional custom duties on imports from Türkiye until 2033.
According to the FBR, the decision has been made to eliminate duties on glucose, glucose syrup, flavour powder, dog and cat food, whereas a reduction in duties have been given on 133 items, including corn flakes, mosquito killing sprays, and electric ovens.
The FBR has stated that the additional custom duty on glucose and glucose syrup will be reduced from 5.83% to zero, while the custom duty on flavour powder will also be reduced from 16.67% to zero, and the custom duty on dog and cat food will also be reduced from 16.67% to zero.
In addition to this, the rate of additional custom duty on several eye-drops will be reduced from 5.83% to zero, whereas additional custom duty on mosquito sprays and electric ovens will also be abolished.
According to the FBR, the reduction in custom duties and additional custom duties will be applicable from May 1, 2023, and a gradual reduction in custom duties and additional custom duties rates will be made till 2033.
