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Pakistan Tariffs and Taxes

Discuss importing regulations of Pakistan, including tariffs, prohibitions, licensing requirements, documentation, etc.

Pakistan Tariffs and Taxes

Postby bridgat » Sun Nov 16, 2008 1:50 pm

Duties and Tariffs

Pakistan uses the Harmonized System to classify and describe goods. Customs duties are levied on ad valorem basis. Tariffs (customs duty) are levied at rates of 5 percent, 10 percent, 20 percent, and 25 percent. Essential items of food, raw material, capital goods, and machinery may be accorded duty-free entry. In addition, auto coners, certain industrial machinery and equipment, computer parts and accessories, and refrigerated trucks and vans not produced locally are accorded duty-free entry. Tariffs are payable in Pakistani currency.


Imported pharmaceutical raw materials and products, as well as motor vehicles, may attract a higher than maximum import duty. However, pharmaceutical materials not locally manufactured or pharmaceuticals imported when the local product does not meet the user's specification may be accorded preferential rates. Multinational companies may be restricted to importing pharmaceutical products and certain cereals from their principals.

Other than customs duty, the government charges sales tax (15.0 percent) on the duty paid value of a variety of goods produced in or imported into the country. Customs duty and other charges are payable in Pakistani currency.

Export subsidies - Pakistan seeks to encourage exports through rebates of import duties, sales taxes, and income taxes, as well as through concessional export financing.


Customs Valuation

GOP uses transactional valuation system where 99 percent of import valuation is based on invoices pursuant to the WTO's Customs Valuation Agreement.

Customs Clearance and Warehousing - Ample public and bonded warehouse facilities, mostly owned by the port trust organizations, exist for the storage of goods. Pakistan has no free-port facilities, but regulations permit similar privileges while goods are warehoused. Goods must be landed within the period specified on the bill of lading or within 15 days after entry of the vessel into port. Once the goods have entered and duties have been assessed, the importer must clear them for consumption (by paying the duties) or warehouse them.
bridgat
 
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Re: Pakistan Tariffs and Taxes

Postby bridgat » Tue Dec 16, 2008 1:15 am

TAX: There is a 15 percent sales tax applied on CIF + duty. Additional taxes may apply (no further information regarding this is available).
bridgat
 
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