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Anomaly in tax rates: Containers piling up at ports
 Muzaffar Hameed March 26, 2011, 04:54:34 AM 

 A large number of containers have piled up at the ports because of confusion prevailing over the net impact of special federal excise duty (SFED) recently imposed through the presidential order. The levy was rejected by the commercial importers who had demanded of the government to continue their zero- rated status at import stage. The government increased FED rate from 1 per cent to 2.5 per cent on imports and also removed sales tax exemption given to the commercial importers by making amendment through SRO 231 on March 15, 2011. The customs agents as a mark of protest against high rate of duty and taxes stopped clearing boxes from the container terminals at the Karachi Port and Port Qasim. A spokesman of Karachi Customs Agents Association (KCAA) told Dawn that the staff at the Pakistan Automated Customs Clearance System (PaCCS) besides, special FED is also charging income tax and sales tax on import value of goods. full story

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