IMPORT DUTIES ON MANY GOODS UPPED
Ministry of Finance has decided to lift the licensing system imposed for the importation of a large number of goods and items under 369 HS codes, with effect from today (June 01).
The decision has been taken to significantly increase import duties, customs duties and surcharges levied on these goods.
Accordingly, taxes will be increased on a number of imported foods including yoghurt, cheese, grapes and apples.
On 9th March 2022, a Gazette Notification was issued under the Import and Export Control Regulations Act making it mandatory to obtain import licenses for goods imported under 369 HS codes.
The decision had been taken to discourage the importation of these goods in the face of the prevailing foreign exchange deficit.
