FBR grants zero rating for machinery import

[Naveed Yaseen]

ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday allowed sales tax zero rating on import and local supply of parts along with plant, machinery and equipment, whether locally manufactured or imported. Sales Tax zero rating would also be applicable on Import and local supply of construction materials imported by Gwadar Export Processing Zone's investors and for development of Export Processing Zone Gwadar for development of zone's infrastructure. In this regard, The FBR authorities have issued SRO 625 (I)/2009 stating that in exercise of the powers conferred by clause © of section 4 of the Sales Tax Act, 1990, the Federal Government is pleased to direct that the following amendments shall be made, and shall be deemed to have been so made on 14th June, 2009, in its Notification No. 549(I)/2008, dated the 11th June, 2008. staff report

http://www.dailytimes.com.pk/default.asp...2009_pg5_2