The National Board of Revenue (NBR) has reduced import duties on fresh fruits by 15 percent to keep prices affordable during the holy month of Ramadan.
According to two notifications issued on March 16, the supplementary duty at the import stage has been lowered from 30percent to 25 percent while the 5 percent advance tax has been completely exempted, according to a press release NBR issued on Tuesday.
Additionally, a separate notification on March 10 reduced the advance income tax on fruit imports from 10 percent to 5 percent bringing the total reduction in customs duties at 15 percent.
The measures were taken in the larger public interest to ensure price stability during Ramadan, it said.
The NBR claimed that, in the larger public interest, the interim government is provided significant tax exemptions on import duty, regulatory duty, VAT, advance income tax, and advance tax on essential commodities, including edible oil, sugar, potatoes, eggs, onions, rice, dates, and pesticides, over the past few months.
"Due to various timely steps taken by the government, including tax exemptions, it has been possible to keep the prices of goods at a tolerable level during the holy month of Ramadan this year," said the release.
The government has completely exempted existing VAT on metro rail service, a widely used public transport, in the larger public interest, said the release.
To ensure easy access to books, promote a modern, technology-based education system, and enhance education quality, VAT has also been exempted on e-book services at both local supply and import levels.
