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NBR Cuts Import Duties on Fresh Fruits by 15%
The National Board of Revenue (NBR) has announced a 15% reduction in import duties on fresh fruits to make them more affordable for consumers, particularly during the upcoming holy month of Ramadan.
The revenue board issued two key notifications on March 16 and an additional one on March 10, according to a press release released on Monday night.
The new measures include a reduction in the supplementary duty on fruit imports from 30% to 25%, as well as a full exemption from the 5% advance tax that was previously imposed at the import stage. Furthermore, a notification on March 10 lowered the advance income tax rate on fruit imports from 10% to 5%.
In its statement, the NBR highlighted that these actions were taken to help keep the prices of fresh fruits within reach for the general public, particularly during Ramadan, when demand typically rises.
These changes are expected to offer relief to both consumers and importers, supporting efforts to ensure access to fresh fruits at more affordable prices during the holy month.