Tag: imported items

  • Landa Bazar traders threaten to close shops due to increased taxes on imported products

    Landa Bazar traders threaten to close shops due to increased taxes on imported products

    Shop owners at Landa Bazaar Karachi have threatened to close their shops in protest of the hike in import tariffs.

    Muhammad Usman, secretary general of the Pakistan Second Hand Clothing Merchant Association, urged that the government remove the increased levies placed on imported cotton clothing at a news conference while threatening to close their stores.

    The spokesperson pointed out that the price of imported used clothing had increased due to government action. With the value of the dollar rising steadily, it is getting harder for people to satisfy their necessities. The authorities have raised the valuation on imported goods in such circumstances, he said.

    It was previously reported on December 23 that the government increased the tax on imported items from Rs81 to Rs225 per kg, forcing the dealers to increase the cost of normally inexpensive shirts, blankets, and other warm clothing.

    In the country’s numerous “Landa Bazars,” shoppers shopping for affordable winter clothing will have to contend with inflationary pressure.

    According to the announcement made in this respect, in addition to the sales tax and customs duty of 5 per cent, which are levied on imported used products, there is also a regulatory charge of 10 per cent and an income tax of 5.5 per cent.

    The price of imported used goods, such as warm clothing, sweaters, blankets, jackets, and shoes, as well as children’s toys, would increase as a result of the tax rate increase.

  • Pakistan Customs intensifies inspection at all international airports

    Pakistan Customs intensifies inspection at all international airports

    Pakistan Customs has intensified goods inspection at all international airports to prohibit the smuggling of recently banned commodities. The federal government prohibited the items in SRO No. 598(I)/2022, issued May 19, 2022, by revising the Import Policy Order, 2022.

    This 24-hour monitoring at international terminals to prevent smuggling has already resulted in multiple confiscation of these items disguised as legitimate passenger baggage.

    Banned commodities like foodstuff, fruits, sanitary wares, used mobile phones, and branded shoes were found in commercial quantities during scanning and inspection at Jinnah International Airport in Karachi on May 23, 2022.

    The aforementioned items were detained/seized in accordance with Sector 168 of the Customs Act of 1969 for violating SRO No. 598(I)/2022 (Import Policy Order, 2022) and Sections 16 and 139 of the Customs Act of 1969.

    While applauding Pakistan Customs’ efforts, the Chairman of the Federal Board of Revenue (FBR) reaffirmed the FBR’s unwavering determination to strengthen policing strategies at all airports, seaports, and land border stations to ensure the avoidance of trafficking of goods, including newly banned items.

    Finance Minister Miftah Ismail and FBR Chairman, on the other hand, have issued instructions not to bother genuine passengers bringing in goods in non-commercial/small quantities for personal use, and to assist such passengers at airports to the greatest extent permitted by law.

    People in Pakistan were outraged by the Customs move, particularly those who had been thoroughly scanned and shared their side of the story on social media.