ISLAMABAD: The Federal Board of Revenue has allowed exemption of customs duty on imported coal mining equipment, machinery, and vehicles for Thar Coal Field.
According to S.R.O. 268(I)/2015 of FBR, exemption is granted for those, equipment, machinery, and vehicles that are not manufactured locally. Moreover, FBR has imposed certain conditions to avail exemption, namely:-
(i) Mining Companies or their authorized operators or authorised contractors applying for exemption, must hold valid permits, licenses and must be entered in agreements with Federal Government or a Provincial Government for the purpose of mining; and
(ii) The goods shall be sold and disposed of after getting prior approval of the FBR and payment of customs duties and any taxes chargeable at the time of import. However, transferred of goods can be made to other entitled mining companies with pre-approval of the FBR; and
(iii) The Chief Executive, or next senior officials to Chief Executive on behalf of Chief Executive, or Head of importing company shall certify according to the rules set by FBR as per the “Annexure mentioned at the end of this article” that the imported items are the requirement of company for manufacturing process. He shall furnish all required information online to Pakistan Customs Computerised System against a specific user ID and password obtained under Section 155D (IV) of the Customs Act, 1969.
Prescribed manner and form set by FBR: