FBR Increases Regulatory Duty on Import of Mushrooms

The Federal Board of Revenue (FBR) has enhanced regulatory duty (RD) on the import of some items including an increase in RD from 20 to 30 percent on the import of mushrooms and truffles. The new rates of the RD would be applicable from March 16, 2024. The FBR issued SRO.407(I)/2024 to amend SRO. 966(1)/2022 on Tuesday. Under the SRO. 966(I)/2022, the Federal Government has levied regulatory duty on import of goods specified falling under the specified Pakistan Customs Tariff (PCT) Code of the First Schedule to the Customs Act. As per SRO.407(I)/2024, the RD at the rate of 15 percent would be applicable on the import of Di-Octyl Terephthalate (DOTP) till June 2024. The FBR has also increased RD on the import of Chloroparaffins liquid from 5 percent to 10 percent till June 30, 2024.